Central Bank of Iran releases $500 million in foreign exchange banknotes

The Central Bank of Iran has initiated a new phase of foreign exchange management to increase the supply of currency banknotes through the official banking network. In the first stage of this measure, $500 million in banknotes will be provided to the banking network to facilitate access for both individuals and legal entities.

Under the new regulations, legal entities can purchase up to $5,000 in banknotes through selected branches of Mellat, Tejarat, and Saderat banks at an agreed rate. Individual applicants are permitted to purchase up to $1,000 per person.

The Central Bank stated that this move aims to meet the actual needs of economic actors, deepen official transactions, and prevent speculative demand or unrealistic market rates. The bank also indicated readiness to increase the volume of supply beyond the initial $500 million if demand from the banking network rises.