Monday 06, August 2018 by Kudakwashe

Iran lifts ban allowing exchange houses to resume work

 

Foreign currencies had recently doubled in price on the black market.

  

The Central Bank of Iran has allowed money exchange houses to resume work after a ban imposed in March 2018 amid the country’s depleting foreign currency reserves, according to local newswire, Islamic Republic News Agency.

Abdolnasser Hemmat, the recently appointed central bank governor, announced that money exchangers are now allowed to sell and buy foreign currencies.

Additionally, legal institutions and businesses will again be allowed to bring gold and foreign currencies into Iran.

Iran’s official rate will remain at 42,000 rials to the dollar for vital imports such as medicine and food, added Hemmat.

  

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