Major part of foreign currency obtained from exports didn’t return to Iran: official
Baku, Azerbaijan, Jan. 28
By Elnur Baghishov - Trend:
Funds worth $22.5 billion obtained from Iran’s non-oil exports haven’t yet returned to the country, Head of Trade Promotion Organization Mohammad-Reza Modudi said, Trend reports via Tasnim.
He said that only $10.5 billion or about one-third of Iran’s non-oil exports worth $33 billion for the period until January 14 have returned to Iran.
He added that if the difference in the foreign currency prices between the black market and Iran's domestic Forex Management Integrated System (locally known as NIMA) is minimized, the problem will be solved.
"If this difference isn’t minimized, we will offer a solution for the foreign currency obtained from exports to return to Iran’s economy," he said.
The price of 1 US dollar in the NIMA system is set at 82,700 rials. This is while in the black market, the price of 1 US dollar is about 120,000 rials.