Iran imposes FX controls as currency falls again
Commodities inflation bites ahead of upcoming new year
The Central Bank of Iran restricted foreign exchange purchases on February 21, as the rial’s value plummeted on the unofficial market.
The unofficial exchange rate has fallen from 410,000 rials to the dollar on January 1 to 498,000 by February 21. On February 22, the rial reached 513,000 to the dollar.
Media reports said that the central bank had suspended allowances that permit Iranians to buy certain sums of foreign exchange. Wire service Tasnim said officials had suspended a €5,000 ($5,295)
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