Tehran, Iran, Jan.21
Trend:
Iranian Minister of Economic Affairs and Finance Farhad Dejpasand has announced the return of €7.5 billion worth of export revenues to the Integrated System for Hard Currency Transactions (NIMA), Trend reports via Mehr news agency.
"The exporters have returned the revenues to NIMA system and until now, the total return has reached €7.5 billion," said Dejpasand.
Referring to the foreign currency revenues return regulation, he said that the exporters that earn under €3-1 3million, are allowed to return the foreign currency without submitting the revenues to NIMA.
The Central Bank of Iran (CBI) has launched the Integrated System for Hard Currency Transactions (NIMA) to reduce the foreign currency fluctuation in the market so the Iranian exporters have to return their foreign currency revenues to the NIMA system and receive rials instead, or sell their foreign currency to the specific banks that have been selected by the CBI.
Meanwhile, the importers will obtain foreign currency to import basic goods into the country.
However there has been criticism over the long procedure of exchange in the system.