The assignment of 10,000 dollars quota has been clarified / these banks are selling currency!

Iranian economy:

The currency supply plan up to 10,000 dollars for each person over 18 years of age started on October 11 this year with the aim of increasing the supply of currency notes and managing market fluctuations; A project designed within the framework of the Central Bank’s program to supply up to two billion dollars of banknotes to the foreign exchange market.

According to the announcement of the central bank, in the first phase of this program, one billion dollars was offered through selected branches of banks and bank exchanges across the country. At first, four banks, Mellat, Tejarat, Saderat, and Saman, participated in this plan, and Melli Bank was added to the foreign exchange supply banks from October 12.

In this way, five banks, Mellat, Meli, Tejarat, Saderat and Saman, within the framework of the new foreign exchange program, provided the possibility of selling foreign currency to qualified applicants, and according to the announced criteria, Iranian people over 18 years of age can buy foreign currency up to 10,000 dollars by presenting a national card.

The difference between the new quota and currency code 56

Before the implementation of this plan, the provision of currency notes for the essential needs of Iranian natural persons residing over 18 years of age was carried out in the heading known as code 56, with an annual limit of one thousand euros or its equivalent in other currencies; According to the exchange rate, the figure was approximately equivalent to 1100 dollars.

However, the new supply of 10,000 dollars should be considered in the context of the Central Bank’s special program to increase the supply of currency notes and market management. In fact, this action was implemented in a situation where the central bank had announced its plan for a wider supply of currency and responding to the existing demand through the official channel.

According to the announcement of the Central Bank, the purpose of this program is to increase the supply of currency in the market and manage exchange rate fluctuations, and the Governor General of the Central Bank emphasized the role of inflationary expectations and psychological factors in the increase of rates and talked about the bank’s measures to manage the market.

Rumored to be discontinued after a few weeks

Now, a few weeks after the implementation of the $10,000 plan, news has been published about the suspension of currency sales with the national card; The news, if true, could affect the expectations of applicants and market participants’ perception of the Central Bank’s foreign exchange policy.

However, the suspension of this plan has not been confirmed and according to the announcement of the Central Bank, the supply of currency continues within the framework of the announced plan. Also, the National Bank of Iran, in a notice published on October 14, announced the continuation of the sale of dollar bills with national cards up to 10,000 dollars for qualified natural persons over 18 years of age, and also announced the possibility of offline registration of currency purchase requests through the “Yes” messenger and receiving it from selected branches.

In general, the plan to supply 10,000 dollars with the national card is part of the central bank’s plan to increase the supply of banknotes and manage the fluctuations of the currency market.