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CBI figures published on Monday showed that it had earmarked some $8.757 billion in heavily-subsidized currency to imports of basic goods and medicine over April-October.<\/p>\n
The CBI has a rate of 285,000 rials per US dollar which it applies to basic goods imports.<\/p>\n
That comes as the market price of the US dollar was 675,000 rials\u00a0in Tehran on Monday.<\/p>\n
Iran has a secondary rate for the US dollar and other hard currencies which it uses for trade of non-essential goods.<\/p>\n
The price, discovered during daily trade at CBI\u2019s Integrated Currency System, known by its Persian initials NIMA, was 504,450 rials per US dollar on Monday.<\/p>\n
CBI figures on imports showed that the lender had spent $21.855 billion in NIMA rate on imports of commercial and trade commodities over the seven months to late October.<\/p>\n
The bank said that it had allocated another $8.89 billion in the same rate to importers who had carried out exports to be able to obtain hard currency at subsidized prices.<\/p>\n
Another $0.903 billion was spent on imports related to Iran\u2019s services sector, showed the CBI figures.<\/p>\n
The figures come as Iran is still under a regime of unilateral US sanctions which restricts it oil exports and its access to the international banking system.<\/p>\n
The country has imposed controls on spending of hard currency for imports in recent years to be able to cope with the economic impacts of the sanctions.<\/p>\n
MA\/Press TV<\/p>\n<\/p><\/div>\n
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