No. 28



Iran To Ease Forex Restrictions For Free Zones

The Iranian Parliament has passed a new law, which has yet to be approved by the Council of Guardians, to ease foreign exchange restrictions in the country's free trade zones in an attempt to attract foreign investment to these areas. Under the law, the fixed exchange rate of $1=IR3,000 (applicable to all import transactions and export earnings) will be abolished in the zones and exchange dealings will be...