Iran’s domestic Forex Management Integrated System (NIMA) has supplied EUR7.197 billion for imports of basic goods since the beginning of year 1398 (March 21) up to August 29.
The trend of offering foreign currency earned from exports in NIMA has been increasing in recent months, following the Central Bank of Iran’s announcement of new policies on re-injection of those earnings into the domestic economy through NIMA.
Earlier on May 20, CBI unveiled a directive package that provides the country’s exporters with guidelines about how they should re-inject their foreign currency incomes into the country’s economy.
Based on the new directive, for the petrochemical sector, the exporters should present at least 60 percent of their foreign currency incomes into NIMA, and a maximum 10 percent could be injected into the financial system in the form of hard currency and the rest could be used for importing necessary goods.
As for other exporters, at least 50 percent of the total earnings should be presented at the NIMA system and a maximum 20 percent could be distributed in form of hard currency and the rest can be used for imports.
NIMA is a new chance for importers to supply their required foreign currency without specific problems and for exporters to re-inject their earned foreign currency to domestic forex market. It was inaugurated to allow exporters of non-oil commodities to sell their foreign currency earnings to importers of consumer products.