Iran: Tehran eases currency rules on foreign exchange – Tehran Video



published: 2018-08-07 23:20:09

The Central Bank of Iran announced from Tehran on Tuesday, that it will open currency markets, allowing exchange offices to buy and sell hard currencies for purposes such as foreign trade.

Importers of non-essential goods will be allowed access to hard currency brought home by the nation’s exporters and exchange rates will be determined by the open market.

The Central Bank also said it would subsidise exchange rates to allow people to buy basic commodities and pharmaceuticals.

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SOT, Iranian Citizen (Farsi): “Currency should have been liberalised from the beginning. When some people turned it into a security issue and close down and say exchange offices are not authorised to operate, this acted as a catalyst for prices to go up, and made it reach 120,000 Rials sooner. Now the fact that they have again opened the exchange offices lets the increase in currency rate be postponed a bit.”

SOT, Iranian Citizen (Farsi): “Last night when they made the announcement, we felt satisfied, but today as I have come to buy currency, in each exchange office I go, they say they don’t have any money. Next week on Wednesday is our flight time. The day after tomorrow was settled for us to receive currency from the bank. They stopped that. And now we cannot get currencies here. I do not know what authority we have to go to.”

SOT, Sohrab Bazargan, Exchange shop seller (Farsi): “The government should give more support to exchange offices, that is, unlicensed exchange offices should require licenses. That’s because when licensed exchange offices operate, the market will be free of dealers.”

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