CBI to issue new foreign exchange directive for exports

TEHRAN, Nov. 10 (MNA) – Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced that a new foreign exchange directive for exports will be introduced in the near future.

Necessary terms and conditions have been outlined on the procedure of export currency return to the economy of Iran, which will be notified soon, he added.

Rial-based export is tantamount to the capital outflow from the country, Hemmati reiterated.

Speaking in a local ceremony on Saturday, he placed special emphasis on the sublime recommendations of the Leader of the Islamic Revolution on the significance of endogenous and extraversion in Resistance Economy and said, “effective steps should be taken in this regard in order to turn sanctions' threats into opportunity for advancing and prospering the country.”

Pointing to 17 border provinces in the country, CBI governor called the increase in exports to 15 neighboring countries as the key to economic development of the country in the current situation.

He said "the coordination among the central bank, Ministry of Industry, Mine and Trade, and Ministry of Agriculture Jihad, is necessary for the management of exports in the border provinces."

He put Iran’s export of non-oil commodities in the first seven months of the current Iranian year (March 21 – Oct. 21) at $27 billion, showing a considerable 13 percent hike as compared to the last year’s corresponding period.

MA/4454025

News Code 139474

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