Details of currency allocation from the language of the Central Bank’s foreign exchange deputy

According to Iran Economist, Mohammad Aram Benyar In response to the questions and requests raised by the members of the delegations and managers of economic organizations, the vice president of currency of the Central Bank said: except for the petrochemical and steel groups, the Central Bank has not imposed any restrictions on the return of currency through imports from places other than export currency for other commodity groups. .

He added: The opinion of the central bank in allocating currency related to medicine and food is completely dependent on the opinion and priority declared by the institutions related to these two sectors. Regarding the allocation and supply of new currency, openings have been made in TBI Bank of Iraq and Halkbank of Turkey.

According to him, providing currency for the import of animal medicines is the first priority of the Central Bank; Also, applicants for machinery from abroad can register orders from their currency exchange location.

Mohammad Aram Ben Yar added: One of the solutions to reduce the demand and reduce the time of foreign currency allocation is to create mechanisms such as paying attention to the ceiling and import history of the applicant with the cooperation of the Ministry of Security and giving priority to manufacturing companies.

The vice president of foreign exchange of the Central Bank continued: Importing without specifying the origin of currency is prohibited in the Law on Combating Smuggling of Goods and Currency; Importing without transferring currency is not a problem for those who have foreign exchange resources, but it will not be possible if importing without transferring currency leads to economic operators turning to the free market and increasing demand in the market.

He continued: In any case, the central bank is responsible for controlling the inflation rate in the country and should also pay attention to the factors that increase the inflation rate. It should be noted that the country is under embargo and the exchange rate cannot be limited to one or two rates. did Now the central bank recognizes the rates of 28 thousand 500, the rate of 37 thousand 500 and the ETS rate which is equivalent to 41 thousand tomans.
Mohammad Aram Benyar stated: According to the agreements made, the exchange rate for foreign investors to leave the country is supposed to be the ETS rate plus 10%. The currency return mechanism in the agricultural sector can also be done through clearing. A rate has been announced for dry fruits, which we have not yet reached an agreement with the relevant association.

He continued: The problem of many of those who had to pay their obligations since 2017 has been resolved, but those who received 4,200 Tomans and their goods are subject to pricing and also sold their goods must pay off their obligations. Of course, some of these cases are subject to compensation.

Mohammad Aram Bin Yar continued: The currencies transferred to Qatar are used to import basic goods. For the central bank, there is no difference between government and private sector imports, but if there is a difference in this sector from the point of view of the Ministry of Agricultural Jihad and the Ministry of Health, they should announce their approach to the central bank.

He reminded: The Central Bank has done its FATF matters and has been welcomed by the other party, but the overall responsibility of this department is with the Ministry of Economy. Anyway, we need to solve this problem for some transactions, including the opening of the LC. A credit line worth 30 Hamats has been established for the import of medicine and medical equipment.

The vice president of foreign exchange of the Central Bank stated: Importers of raw materials for shoes can also use the foreign currency for export. The amount of foreign currency allocation and supply will be better in the second half of the year. In such a way that the allocation will be done within 30 days and of course we may extend the period by one month to reach the balance point.