The Central Bank has announced that the receipt and payment of 100-dollar banknotes in foreign currency investment funds with fixed income is only permitted in the form of "blue dollar." This condition is mandatory both at the time of issuance and redemption of fund units by the managing banks.
"Blue Dollar" Condition for Transactions in Currency Investment Funds Announced
The Central Bank of Iran has mandated that transactions involving 100-dollar banknotes in currency investment funds must be conducted using the 'blue dollar.' This regulation affects how these funds operate and is enforced by the banks managing the funds.
👥 Key Players
📰 What Happened
The Central Bank of Iran has mandated that all transactions involving 100-dollar banknotes in currency investment funds must be conducted using the 'blue dollar.' This regulation is enforced by the banks managing these funds.
- Transactions must use the 'blue dollar' for both issuance and redemption of fund units.
- This regulation affects how currency investment funds operate in Iran.
💡 Why It Matters
📚 Background
The 'blue dollar' refers to the unofficial exchange rate for the US dollar in Iran, often significantly higher than the official rate due to economic sanctions and inflation.
🏷️ Entities Mentioned
Translated from the original and edited for English readers. View original source →
Translation confidence: 85%