Iran lifts ban on currency exchanges, allows branches to resume business

The official rate will remain at 42,000 rials to the dollar. (File photo: AFP)
Updated 06 August 2018
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Iran lifts ban on currency exchanges, allows branches to resume business

  • Foreign currencies had recently doubled in price on the black market
  • Legal institutions and businesses will again be allowed to bring gold and foreign currencies into Iran

TEHRAN, Iran: Iran’s Central Bank has allowed money exchange offices to resume work after a ban imposed in March amid the country’s economic troubles.
The bank’s governor, Abdolnasser Hemmati, told state TV late on Sunday that “money exchangers are allowed to sell and buy foreign currencies” once again.
He also said that legal institutions and businesses will again be allowed to bring gold and foreign currencies into Iran. Hemmati says the decision will go into effect on Tuesday.
He says the official rate will remain at 42,000 rials to the dollar for vital imports such as medicine and food.
Hemmati says the government’s decision in April to enforce a single exchange rate to the dollar caused “serious problems” for the country.
Foreign currencies had recently doubled in price on the black market.


Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

Updated 19 March 2019
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Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

  • Media said the increase to the passenger departure fee will raise the amount to $25

CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday.

Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for each passenger flying on regular or charter flights — both internationally and domestically — from Egyptian airports. 

The rate has not changed since 2013, the ministry said in a statement quoted by Al-Ahram Newspaper

The proposed increase was adopted by the Supreme Council for Pricing after "careful consideration" and according to normal practice in airports worldwide, it added.  

The ministry said the increase is in line with the challenges and demands needed for the development of the entire service system at Egyptian airports.