Importers buy forex worth €7.8b at Iran’s secondary forex market

Financial Tribune – The total value of foreign currencies sold by exporters of non-oil goods at Iran’s secondary market amounted to €9.2 billion since the beginning of the current fiscal year (started March 21), €7.86 billion of which have been purchased by importers.

The figure indicates that the repatriation of export earnings has gained momentum after the secondary market registered a steady growth in foreign exchange rates during the past few months.

This came after the gap between prices in open and secondary markets were substantially reduced, thanks to the Central Bank of Iran’s efforts to stabilize the foreign currency rate in the open market while pushing it up in the secondary one.