NO. 32


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...