VOL. XXXVII
NO. 32
9-MAY-1994
Financial and Banking News
Financial Policy
Iran Re-Introduces Dual Exchange Rate
The Iranian Central Bank has announced that it is to allow the sale ofdollars at 50 riyals below the market rate of $1=IR1750 from 7 May. The new ratewill apply for specified imports which can be obtained only with cash earnedfrom non-oil exports. The announcement of the move was accompanied by a sternwarning to private sector companies to transact all their foreign exchangebusiness...
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