A week ago, the government set a unified market rate for the US dollar, after decades, which could be seen as a positive development. However, the rate at 42 thousand IRR per USD seems unrealistic which can encourage the return of multi-tier rates to the market. To avoid this and to control the ever-increasing chaos in the FOREX market, the Central Bank of Iran (CBI) has forbidden exchange offices from selling all currencies and criminalized the possession of more than 10 thousand euros at home are all news. The CBI tries to eliminate the trade of foreign currencies in cash form. Iranian passengers, with a valid visa and ticket, can purchase 1000 euros once a year from banks; in case of traveling to the neighboring countries, expect Iraq, this quota is reduced to 500 USD.
The import order registration website, at the Ministry of Industries and Trade, closed shortly after the new policies at currency market were announced. After implementing the new regulations, the website reopened this week. The CBI has obliged all the Iranian traders working with four countries, Turkey, India, South Korea and China to use the banking system solely.
