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Central Bank: 71% of foreign currency obtained from exports returned to Iran

Business Materials 21 October 2019 10:54 (UTC +04:00)

Baku, Azerbaijan, Oct. 21

By Elnur Baghishov - Trend:

Since the announcement of Iran’s foreign currency policies on April 10, 2018 and until May 21, 2019, 71 percent of foreign currency obtained from exports have been returned to Iran, Governor of the Central Bank of Iran Abdolnaser Hemmati said at a meeting with representatives of the Iranian Chamber of Commerce, Industries, Mines and Agriculture, Trend reports citing IRNA.

Hemmati noted that the exporters brought about 45 billion euros to Iran during the reporting period.

The governor added that according to an agreement reached with the national committee on returning foreign currency to Iran, he recalculated the cost of exported customs goods deducting 20 percent from the actual value.

“As a result, the export value dropped by 35 billion euros,” the director general said.

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