Baku, Azerbaijan, April 23
By Farhad Daneshvar – Trend:
Iran’s First Vice President Eshaq Jahangiri has unveiled an online system which enables the country’s exporters to sell hard currency they obtained from international trades to the country’s banking system.
The online system namely NIMA came amid the recent efforts to renovate Iran’s foreign currency system via managing domestic foreign currency market and reinforcing exports.
Following the recent currency fluctuations in the country which saw the greenback trading at 62,000 on the unregulated market, the government decided to increase the official rate of the national currency, rial, against the US dollar, setting the official rate at 42,000 rials on April 12.
Eshaq Jahangiri earlier announced that the administration has ratified a 16-article instruction to address new policies to be applied in the foreign trade, including import regulations in free zones and some tax exemptions for exporters.
Under the new regulations, Iranian importers must officially register their purchase orders, Iran Trade Promotion Organization official online platform. In the meantime, the importers are required to supply hard currency for trade exclusively from banks.
The new regulation has also obliged exporters to sell through the NIMA system the foreign currency they acquired form international trades.