Director of the Central Bank’s Export Division announced the new currency package that is completing the general policies of last year.
According to IBENA, Samad Karimi, examining the process of completing the foreign exchange policies of the last year, said that since the April 11th, 2018, all exporters are convinced to return foreign exchange earnings to the economic cycle of the country.
He added: “on 22nd of April last year, the procedure for returning the foreign exchange earnings to the government was approved and the import methods against exports and how the currency should be returned to the NIMA system was decided.”
The director of the Central Bank’s Export Division added: Finally, a new package of how the exchange should be returned was approved, in which the two groups of petrochemicals and other exporters and the amount of return to the NIMA system were identified.
Karimi added: There will be no price restrictions for exporters on the second market. Banknotes are transacted in banks and NIMA and will be recorded in Nima system (Second Market).
The director of the Central Bank’s Export Division added that banknotes are traded both in banks and in authorized exchange offices registered in the currency monitoring system. In another part, he evaluated the performance of petrochemicals well and said: The petrochemical industry is doing a good interaction with the Central Bank.
He added that major imports into the country are monitored by the Central Bank.
Karimi said that if a commodity is to enter the country, the Ministry of Industry, Mine and Trade must confirm, adding: The policy-making is smart and systematic and it helps exporters. It is better to finance trade with neighboring countries.
Karimi emphasized the correctness of strategic and decision-making in trade with neighbors, adding that this could prevent the foreign currency from leaving the country. He pointed to how the Central Bank invested in the foreign currency and said the exporters’ performance reached $19 billion.
The official at the Central Bank said that we should be able to supply the goods with the same foreign exchange resources from the sale of non-oil products. He pointed to the close monitoring of exporters and exports, saying that exporters who have provided more than 70% of the currency to NIMA have been encouraged.
Director of the Central Bank’s Export Division added that the customs office will also systematically reports its statistics to NIMA. He added that exporters who import in reverse to their exports can enter their export information into the Iran Comprehensive Trade System.
Karimi said: the brokers of the organized foreign exchange market are authorized to exchange offices. He added that the Central Bank view of the organized exchange market is like a bank that does business and economic interactions under the control of the Central Bank.
He added that the metrics before the launch of this market should be measured, which is to be distributed throughout the country. Director of the Central Bank’s Export Division noted that due to currency depreciation in recent days, companies such as petrochemicals have been able to sell more currency since the fourth quarter of last year, and the foreign exchange market control has affected the dollar’s downward trend in recent days.