AhlulBayt News Agency: The Central Bank of Iran (CBI) has allocated additional resources to subsidize imports of essential goods amid rising tensions with Israel.
CBI’s public relations office announced on Saturday that the bank had earmarked an extra $1 billion for basic goods imports, with $400 million immediately transferred to banks handling these transactions.
The decision aims to strengthen Iran’s reserves of essential commodities.
The announcement followed Israeli airstrikes on Iran, prompting Tehran to retaliate with missile and drone attacks on targets in occupied Palestine.
Iranian government officials assured that the country has sufficient food and essential supplies to withstand emergency conditions caused by the escalating conflict.
Since late March, the CBI has processed over $10 billion in hard currency allocations for imports, including more than $2 billion in subsidized funds for basic goods and medicine.
The bank offers an exchange rate of 285,000 rials per US dollar for imports of grains, animal feed, and medicine, while manufacturing equipment and other necessities are imported at a rate of 700,000 rials per dollar.
Meanwhile, the free market exchange rate for the US dollar surged to 900,000 rials on Saturday, marking a 12% increase compared to pre-conflict rates.
/129
Your Comment