Iran's CB Allocates €6.8b for Imports via Secondary Currency Market

The Central Bank of Iran said after the creation of the secondary foreign exchange market – known by its Persian name Nima – in late April, €6.8 billion was sold by it for imports.

Financial Tribune- Nima – the Integrated Foreign Exchange Deals System – was set up by the CBI after the government unified the currency rates on April 10 following weeks of volatility and instability in the forex market.
Although at first the Nima rate for one US dollar was fixed at 42,000 rials, huge demand afterwards for the greenback forced the administration to backtrack on its forex rate unification policy and let "supply and demand" set the rates.

Publish Date: Dec 8, 2018