Central Bank of Iran Reports Allocations to Imports

The Central Bank of Iran (CBI) has allocated more than US$11.7 billion in foreign currency to cover import needs since the beginning of the Persian year 1404 (March 20), according to the Iran Center for Exchange of Currency and Gold.

Out of the total, US$2.227 billion was allocated for essential goods, pharmaceuticals, and medical equipment, the center reported on Thursday.

An additional US$9.176 billion was used to finance the import of raw materials, industrial equipment, and commercial necessities.

The report also noted that over US$300 million has been allocated to meet 63 categories of service-related foreign exchange demands.

During the same period, the commercial forex market operated by the Iran Center for Exchange—currently the country's largest currency trading platform—recorded US$6.6 billion in total transactions. In the past three days alone, US$375 million worth of various currencies were traded in the market. - Tehran Times