New incentives to restore export currency

New incentives to restore export currency
  • 2020-07-13
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The governor of the Central Bank wrote on his Instagram page, referring to the encouragement of exporters who return the currency on time: "The deadline for returning the export currency is four months after the issuance of the export license."

According to the International Iranian Stone Exhibition, Abdolnasser Hemmati wrote on his Instagram page: Today, the meeting of the committee subject to paragraph two of the resolution of the Supreme Economic Coordination Council on how to return the currency of exporters had two important decisions:

1- The deadline for returning the export currency is four months after the issuance of the export license. To encourage exporters to return their currency within three months of the issuance of the export license, their foreign exchange liabilities will be calculated on the basis of 90% of the base export value.

2. Exporters who have not returned to the economic cycle after the expiration date of the export license, are obliged to fulfill the remaining obligations in the second market (Nima system) at the final day rate of their deadline in the second market, or price. Market Day When the commitment is fulfilled, whichever is less, sell to the central bank.

The central bank appreciates the esteemed exporters who, by returning their currency to the country's economic cycle in a timely manner, will help to balance the foreign exchange market and neutralize the maximum pressure as much as possible, and will certainly provide more incentives for them. Details of the committee's decisions will be communicated to economic actors, in particular, exporters.