Iran set €10,000 limit for foreign currency holdings

Beijing. April 11. Silkroadnews - Iran’s central bank has set a €10 thousand limit for citizens’ foreign currency holdings outside the banks, the Iranian Telegraph Agency (IrTAG) reports referring to the statement of the Central Bank of Iran released by Tasnim agency on Tuesday.
“Citizens have until the end of the month to sell any excess amount or deposit it in banks, the central bank said in a statement published by the Tasnim news agency. Failure to comply would result in legal action against them, the central bank said,” Reuters wrote.
The move has been taken within the framework of the policy of stabilizing of the national currency exchange rate. Since the beginning of the month, it fell almost 20%. As IrTAG reported yesterday, Iran also plans to boost transition from the dollar to the euro in the international settlements till the end of the year.