Currency exchange banned in Iran

Mon 16 Apr 2018 07:51 GMT | 11:51 Local Time

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Assistant to the head of the Central Bank of Iran Seyid Ahmad Arakchi announced a ban on currency exchange outside the banking system.

According to Oxu.Az, Central Bank's decision is aimed at ensuring the market stability.

It is also reported that the decision will lead to transparency of the country's economy, the withdrawal of investments and the fight against smuggling.

Ahmad said that people having EUR 10,000 should invest this money in banks.

Earlier due to economic embargo importers in Iran mainly purchased currency in black markets and exchange points.

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