Exchangers Not Going Away

EghtesadOnline: The governor of the Central Bank of Iran emphasized the role of moneychangers in the foreign exchange market, saying that the regulator is not seeking to remove them from the Iranian economy.

News ID: ۷۴۵۱۷۳

17 April 2018

Valiollah Seif, who was meeting with the presiding board members of the Association of Bureaux de Change Operators of Iran, pointed to the importance of exchangers’ experience at the time of sanctions and said it is in the national interest to support moneychangers.  He strongly denied claims that CBI intends to close the exchange shops and added that a new model is being defined for these entities. “At present, there are two roles for exchangers: one is to transfer cash and the other is to buy the hard currency of exporters,” he was quoted as saying by the government’s official website. In the wake of the new forex measures, CBI had earlier announced that all importers should get their hard currency from the banking system and if banks have any difficulty in cash transfer, then the duty will fall to certified exchange shops, according to Financial Tribune.