Iran’s CB sets deadline for export revenues repatriation

Financial Tribune – Companies exporting non-oil goods that fail to meet their financial commitments regarding repatriation of their overseas earnings in the previous Iranian fiscal year (March 2018-19) by the end of this month will be taken to court.

Mohmmad Lahooti, head of Iranian Export Confederation, issued the warning saying that the Central Bank of Iran has agreed to extend the deadline to January 21 “for the last time”.

Companies are required to sell at least half of their export earnings in the secondary market at an exchange rate set below the higher open market price.