Iran Economy NewsDollars are scarce in Iran

Dollars are scarce in Iran

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Iran Focus: Tehran, Oct. 13 – From the Grapevine… Large numbers of Iranians have started to take funds out of their banks accounts to convert into US dollars. Long lines at foreign exchange retailers have become a common sight in recent days.

Iran Focus

Tehran, Oct. 13 – From the Grapevine…

Large numbers of Iranians have started to take funds out of their banks accounts to convert into US dollars. Long lines at foreign exchange retailers have become a common sight in recent days.

The government has limited dollar purchases to $2,000 per person at 10,060 Rials for every dollar.

According to eyewitnesses, even at a remote foreign exchange shop in north-western Tehran, people waited since 9 in the morning local time, where they are asked to fill out forms and provide the required paperwork. However, foreign currency is not available until 14:00 local time and even then there are no guarantees that people in line would receive their desired amounts.

Buying and selling US dollars at foreign exchange retailers have been severely restricted.

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