Iran’s CB: New route to help meet currency needs

Financial Tribune – Plans are underway for eleven agent banks to sell foreign currency to non-commercial, everyday purposes as part of a new mechanism to reform the volatile currency market, says Mehdi Kasraei-Pour, head of CBI’s Department for Forex Polices and Regulations.

Currency for non-commercial needs can be sold in two ways: cash or through the transfer ‘Hawala’ system.