Iran has started implementing a new Central Bank directive that allows private-sector exporters to meet their foreign exchange repatriation obligations by selling dollar and euro banknotes directly to selected state-owned banks, a chamber of commerce official said on Saturday.
Shahla Amouri, head of the Ahvaz Chamber of Commerce, said exporters can sell cash foreign currency to designated branches of Bank Melli, Bank Saderat, and Bank Tejarat to settle up to 100% of the foreign currency value stated in their export licenses, based on daily exchange house rates.
She said the measure is intended to accelerate the return of export revenues to the domestic economy and help bolster Iran’s foreign exchange reserves.