Iran government orders opening LCs for import of staples
Tehran, Iran, January 1
By Mehdi Sepahvand – Trend:
Iran’s First Vice President Es’haq Jahangiri has issued an order which obliges the Central Bank of Iran to open lines of credit for the import of staples.
The governmental verdict obliges Iranian exporters of petrochemicals, steel, copper, aluminum, iron ore, etc. to sell their incoming dollars to the Central Bank, IRIB news agency reported January 1.
The dollars will then be given within lines of credit to the import of strategic commodities. According to the decree, the dollars so given will be priced at 36,000 rials per USD, while the value of the dollar in the free market is close to 40,000 rials.