February 28, 2018 16:07
News ID: 1324

(Persia Digest) – The Central Bank of Iran (CBI) announced today, 28 February 2018, that orders will no longer be registered using the US dollar.

However, this is not an ex post facto law for those orders that have received their 8-digit registration licenses prior to the above-mentioned date.

Persia Digest reports that First Vice President, Eshaq Jahangiri, circulated a memo to the CBI and the ministries of Agriculture, and Industry, Mine and Trade on 30 January 2018 banning the registration of orders without the transfer of foreign currency for imports from China, India, S Korea, and Turkey.

The price of the US dollar skyrocketed over the past few months in Iran, forcing the CBI to increase interest rates on deposit accounts and request police intervention to deal with black marketeers.

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