Iran's Central Bank has provided more than $25.868bn in foreign currency for importing essential goods, medicine, industrial products and services from the beginning of the current Persian calendar year to September 23
Iran's Central Bank manages foreign currency allocation as part of its broader monetary policy whilst dealing with sanctions-related restrictions on international banking and financial transactions.
The Central Bank's public relations department said the bank supplied $6.58bn in preferential foreign currency for importing essential goods that constitute people's basic needs.
Commercial and trading sector importers received $18.563bn in foreign currency for importing machinery and raw materials.
Approximately $725mn in foreign currency was also provided for the country's service needs.
The allocation for machinery and raw materials indicates continued industrial activity and efforts to maintain production capacity across various sectors of the Iranian economy.
Service sector currency provision covers various needs including transportation, technology services and other service imports required for economic operations.
Related Articles
Iran joins CFT amid hopes for banking relief and security concerns
Iran's Expediency Council approved the country's conditional accession to the Convention for the Suppression of the Financing of Terrorism (CFT), raising hopes for economic opening, Hamshahri Online ... more
Iran's central bank authorised to settle IRR762 trillion IMF debt
Iran's Central Bank has been authorised to settle IRR762.305 trillion ($708mn) in debt arising from the Islamic Republic's commitments to the International Monetary Fund, First Vice President ... more
Russia ready to cooperate with Iran on nuclear issues, says Peskov
Russia will continue to cooperate with Iran including in the field of “peaceful nuclear energy”, Kremlin spokesman Dmitry Peskov said on October 20, Vedomosti newspaper reported. ... ... more