14 May 2018
TEHRAN (CBI PR dept) – Banks can buy currencies from foreign tourists, transit drivers, and investors approved by the Organization for Investment, Economic and Technical Assistance of Iran, political agents residing in Iran as well as offices of foreign banks through written requests and, then, sell them in accordance with FX regulations.
Central bank of the Islamic republic of Iran has authorized all banks and credit institutions to purchase foreign currencies from foreign tourists, foreign transit drivers, and foreign investors, upon the approval of the organization for investment economic and technical assistance of Iran, the political agents residing in Iran, as well as the offices of foreign banks through written requests to the central bank and, later, sell the purchased currencies in accordance with FX regulations.
It is noteworthy that banks buy currencies in line with their main role as mediators in management of foreign exchange which conducts foreign exchange resources from suppliers to applicants.
The new FX policy which aims at restoring stability in the foreign exchange market, making the country safe against foreign threats, responding to real needs in both manufacturing and service sectors in transparent and secure ways, preventing the use of foreign exchange resources of the country in smuggling and capital outflow and providing full transparency in the supply and demand in FX market was ratified by the cabinet and came into force on April 11 this year.