The Iranian government will introduce new foreign exchange controls to regulate the booming black market, an Iranian financial magazine reported.
All money dealers will be licensed and will not be allowed to buy foreign currency from foreign nationals, Iran's official Islamic Republic News Agency quoted the magazine Latest Economic Issues as saying.The dealers, who operate in the bazaars of Tehran and other cities, trade foreign currencies at 10 to 15 times the exchange rate set by the Central Bank, the news agency said in a report monitored in Nicosia.
The magazine said Iranians will be allowed to take a certain amount of foreign currency out of the country without special permission, but any business transactions over a set limit will have to comply with new regulations.
The report did not say when the measures will go into effect.