€3.2b paid for importing basic goods

September 15, 2018

TEHRAN- The Central Bank of Iran (CBI) has paid €3.2 billion to import basic goods during the past month, according to the central bank governor.

“In the past month, 1.8 billion euro has been paid for importing basic goods including oil, meat, rice, medical equipment, etc., while 1.4 billion euro has been supplied by the domestic Forex Management Integrated System [locally known as NIMA] for importing raw materials as well as capital and consumer goods,” Abdolnaser Hemmati wrote on his Instagram page.

According to the latest announcement of CBI, the bank has paid €5.5 billion for supplying basic goods since the beginning of the current Iranian calendar year (March 21) till early September.

Such measures have been taken to encounter the recent unprecedented sharp depreciation of rial against the U.S. dollar.

The increase in prices of basic goods outstrips people’s income, i.e. purchasing power has decreased.

HJ/MG

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