Arsalan Fathipour, Head the Majlis Economic Committee, announced three official rates of exchange for the US dollar. According to the new regulations, the rate of IRR 12,260 to the dollar offered by the banks will now only be available for “the import of basic goods.” Exchange for “capital and brokered goods” will be offered at IRR 15,000 to the dollar, and luxury goods such as toys and foreign cars can only be imported at the open market rate for foreign currencies.
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