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16. 10. 06
Created: 06 October 2016

Iran is finally determined to abolish its dual foreign exchange rate which was in place for more than a few years resulting in problems for both domestic and multinational companies doing business in Iran. According to Minister of Economy, the current situation will end within the coming two to three months, as the country adopts floating exchange rate.

Businesses in Iran are facing two exchange rates, an official rate and an open market rate with 10%-15% difference in value. This has long been argued to be creating room for corruption and creating a major obstacle on international trades with Iran.