Iran to inject more foreign currency into economy after deal with US
Hemmati said the bank would channel part of its strengthened reserves into the economy, with an initial $2 billion to be made available on Saturday for the industrial sector, and would help control inflation as well as the import of essential goods.
The sign of the Central Bank of the Islamic Republic of Iran is seen in Tehran, Iran 25 January 2023. Photo: REUTERS
Iran will significantly increase foreign currency allocations from Saturday after improved access to foreign assets and the recent easing of restrictions on oil exports, Central Bank Governor Abdolnasser Hemmati said on Wednesday, according to Iran's Nournews.
An interim deal signed last week between Tehran and Washington mandates the US to issue temporary waivers for the export of Iranian energy products and to improve Iran's access to its frozen assets abroad.
Hemmati said the bank would channel part of its strengthened reserves into the economy, with an initial $2 billion to be made available on Saturday for the industrial sector, and would help control inflation as well as the import of essential goods.
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