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Iran allocates cheap-rated $28 bln for staple goods

Iran Materials 20 September 2013 14:12 (UTC +04:00)

Azerbaijan, Baku, Sept. 20 / Trend, N. Umid, S. Isayev

Iran has allocated some $28 billion based on cheap rate (12,260 rials per each USD) during 13-month period which ended on July 22, 2013, ISNA news agency reported.

The mentioned amount of money was allocated for for staple goods and medicine imports.

According to the report, Iran allocated some $20 billion (based on rate of 12,260 rials/USD) during last 9 months of the previous solar year (ended on March 21) for imported staple goods and medicines.

The administration previously officially announced that the official rate of 12,260 rials per each USD will no longer be used for importation of staple food and drugs starting July 9.

After that, the imports of some goods has faced problems.

Iranian media outlets informed that some staple goods and medicine carrying ships are waiting for customs clearance due to foreign currency allocation problems.

Money for shipments has been paid at the older cheap official rate of USD (12,260 rials/dollar) and importers had to pay additional money based on different between old and new rate of USD(24,700 rials per each dollar) for clearance of shipment.

On August 18, the newly formed cabinet of ministers of Iranian president Hassan Rouhani, has made a decision regarding clearing the staple goods that have been held at the country's customs.

The cabinet ministers commissioned the Central Bank and the concerned ministries to adopt the necessary measures for unloading the cargo ships and customs clearance of the dire necessities of the people.

In August Tasnim news portal reported that the Central Bank hasn't allocated the foreign currency at the rate of 12,260 rials per each USD for stable goods which have been imported by private sector, despite government's decision.

According to the report, the foreign currency in the rate of 12,260 just allocated to state importers of the staple goods.

The private sector of Iran also has problems with receiving foreign currency for official rate of 24,700 rials per dollar, the report said.

Iran's Central Bank has allocated US dollars at the official rate of 24,700 rials per each USD for private sector's staple good importers in a very limited amount during last two months.

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