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New currency exchange regulation in lran to support steel exporters along with other industries-緊固件展-2025第二十五屆廣州國際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 25th China(Guangzhou)Int'l Fastener & Equipment Exhibition
12/23/2024 緊固件展-緊固件采購會(huì)-國際緊固件展-fastener expo |
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The lranian authoriies have announced an easing of the exchange rate for the local currency for export sales of various productsincluding steel, a move fought for by market players for a while now. The change is expected to boost the country''s expors,particularly in the steel segment, which may support the mlls especially in the upcoming period of natural gas supply cuts andconsequently, higher production costs.
According to local lranian media, the lranian central bank has issued a notification stating that there will be a change in the rules oflocal currency exchange for companies exporting steel, petrochemicals, non-ferrous basic metals and petroleum products, whilepreviously it was mandatory to exchange the foreign currency sourced from exports of these products according to thegovernmental rate, which is much lower than the market rate
According to the new regulation, lranian exporters, starting from December 21, will be allowed to use a so-called agreeable ratewhich is estimated at around $1 = lRR 60.000-65.000. The most recent governmental exchange rate has been reported by marketplavers at $1 = lRR 54.000, while the free rate currently stands at $1 = lRR 73.000."The lranian government has a shortage ofcurrency, so they want to protect exporters. Based on the new currency requlations, producers willbe able to export more thantraders" a source told SteelOrbis,commenting on the situation.
緊固件展-2025第二十五屆廣州國際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 25th China(Guangzhou)Int''l Fastener & Equipment Exhibition
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