TEHRAN, Iran, July 7
Trend:
Iranian government offers incentives to exporters returning foreign currency revenues back to the country to curb the rise of foreign currency rates, said Iranian President Hassan Rouhani, Trend reports citing IRNA.
"One of the ways to control the foreign currency fluctuation is to return foreign currency revenues from exports to the country," said Hassan Rouhani.
"The government will provide incentives and special advantages to those individuals that return the foreign currency revenue before the deadline on July 21, while those who refused to return the foreign currency will be prosecuted," the head of state added.
The Central Bank of Iran has announced that exporters must return foreign currency revenue by July 21, while some exporters operating in private sector say country's foreign trade effected by the coronavirus situation and there are limitations for export due to closed borders that reduce the return of foreign currency revenue.
Forex management integrated system (NIMA) was established by the Central Bank of Iran (CBI) to reduce the foreign currency rates, and exporters are obligated to return revenues via this system.
The USD and euro rates have increased significantly in Iran's foreign currency market during recent days.