A Newspaper Report on New Restrictions by the Central Bank; Import Currency is Rationed

A Tehran-based newspaper reported on the rationing of imported currency, stating that the Central Bank has informed the Ministry of Industry, Mine and Trade (IMT) about the termination of currency quotas for importers due to a shortage of reserves. The newspaper 'Ham-Mihan' noted in its March 11 issue that the notification of quota termination via SMS to applicants occurred without any prior announcement of quotas or reductions to traders. According to the report, the Central Bank of the Islamic Republic had rationed the Nima currency in September, but traders using export currency from the country of origin were exempt from this rationing. The report's author emphasizes that this action by the Central Bank has led to confusion and numerous problems for traders, especially as the Central Bank has repeatedly claimed that the country's foreign reserves are adequate and that there are no issues with currency allocation. Alongside this report and the Central Bank's new approach, the Kayhan newspaper, which operates under the supervision of Ali Khamenei's representative and is funded by the public budget, also attributed one of the factors for the rising dollar prices in the market to 'the country's traders,' stating that 'the excessive demands of certain state and semi-state exporters, who benefit from various rents, have been fueled by the support of certain individuals and factions within the government.' Some independent economic experts believe that the currency issue has gone beyond government control and is being decided in high circles of the regime. Consequently, the market has become more securitized, with targeted news and reports in security and governmental media, and demand suppression has occurred. In this context, Hossein Rahimi, the head of the Economic Security Police, stated that this year more than 50 operations against 'currency brokers' and those involved in forward transactions have been conducted, resulting in the arrest of dozens of individuals. This security official emphasized that 'the enemy is planning to disrupt the currency market.' Currently, the US dollar is being traded in the free market of Iran around 61,000 tomans, having recently reached a historic high of 61,200 tomans. The historical record for gold coins has surpassed 37.5 million tomans. The price surge in the automotive market is also noted, with spare parts expected to become more expensive next year. Additionally, the Secretary-General of the Workers' House has predicted inflation to exceed 50 percent.