31 January 2017

CBI Official rates TEHRAN 31 January 2017 (Source: CBI Website)

Currency Rate
USD 32,366
JPY100 28,509
EUR 34,633
GBP 40,505
CHF 32,541

Open market rates for major foreign currencies
Tehran, 31 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38190
(EU) Euro 41700
British Pound 48440

* CBI = Central Bank of the Islamic Republic of Iran

30 January 2017

CBI Official rates TEHRAN 30 January 2017 (Source: CBI Website)

Currency Rate
USD 32,363
JPY100 28,270
EUR 34,735
GBP 40,715
CHF 32,470

Open market rates for major foreign currencies
Tehran, 30 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38280
(EU) Euro 41860
British Pound 48660

* CBI = Central Bank of the Islamic Republic of Iran

29 January 2017

CBI Official rates TEHRAN 29 January 2017 (Source: CBI Website)

Currency Rate
USD 32,364
JPY100 28,117
EUR 34,622
GBP 40,622
CHF 32,391

Open market rates for major foreign currencies
Tehran, 29 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38580
(EU) Euro 41960
British Pound 48710

* CBI = Central Bank of the Islamic Republic of Iran

28 January 2017

CBI Official rates TEHRAN 28 January 2017 (Source: CBI Website)

Currency Rate
USD 32,364
JPY100 28,117
EUR 34,622
GBP 40,622
CHF 32,391

Open market rates for major foreign currencies
Tehran, 28 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38630
(EU) Euro 42050
British Pound 48860

* CBI = Central Bank of the Islamic Republic of Iran

Iranian and Foreign JV Companies Considered Sole Beneficiaries for Receiving Bank Facilities

Back

Nourlaw.com-Tehran-17 January 2017- All the companies formed in Iran in partnership between Iranians and foreigners, wherein the foreign investment is not less than 50%, shall be considered a sole beneficiary for a maximum of three years with respect to undertaking responsibility and receiving facilities from Iranian banks, provided the share of the foreign partner remains at least 50%. during the stated period of time. The ruling was published in the circular letter No. 95/343157 dated 28/10/1395 (17 January 2017) of the Central Bank of the Islamic Republic of Iran (CBI).
According to the letter, notified to all Iranian governmental and private banks and non-banking institutes, the decision was made to promote foreign investment for coping with the current economic stagnation.

CBI Sets Rules for Forex Operations of Non-banking Credit Institutes

Back

Nourlaw.com-Tehran- 18 January 2017- The Central Bank of the Islamic Republic of Iran (CBI) in its resolution No.95/344396 dated 29/10/1395 has set out rules for non-banking credit institutes to perform foreign exchange operations.
According to Article 4 of the resolution, the credit institutes are allowed to render forex services in three stages. Some of the services are: purchase, sale and transfer of forex; Opening saving accounts; issuance of documentary credit and bills of exchange for export and import; granting a substantial list of all types of guarantees; Investment in all types of negotiable papers; representing foreign credit institutes; concluding finance and refinance contracts; taking part in inter-bank forex markets; issue of negotiable instruments such as Participation Papers and Sukuk bonds.
Participation Paper is a tradable Islamic bond in Iran and according to Financial Times Lexicon, Sukuk bonds are structured in such a way as to generate returns to investors without infringing Islamic law (that prohibits riba or interest). Sukuk represents undivided shares in the ownership of tangible assets relating to particular projects or special investment activity.

4% On Account Tax for imported Goods

Back

Nourlaw.com-Tehran-31 October 2016- The Center of Imports and Free Zones and Special Economic Zones Affairs of Iran Customs declared today in its circular letter No. 145072/95/101512/73/269 dated 10/08/1395 (31 October 2016) that, as already announced, the import of goods is still subjected to a 4% tax account.
Exemptions for certain importers and goods were detailed in another circular letter of Iran Customs, issued under No. 101512/95/94123/183094/144/191 on 02/06/1395 (23 August 2016). They are: Production and manufacturing entities; holders of Golden Commercial Cards (needed for importation); reputable importers listed by the Tax Affairs Organization, ministries and governmental establishments and organizations and municipalities; goods imported by mail and travelers considered as non-commercial and all the goods listed under Article 119 of the Customs Affairs Law. The article is related to exemption of customs duties for imported goods of diplomatic missions, personal items, transit, military items etc.

26 January 2017

CBI Official rates TEHRAN 26 January 2017 (Source: CBI Website)

Currency Rate
USD 32,360
JPY100 28,535
EUR 34,806
GBP 40,965
CHF 32,406

Open market rates for major foreign currencies
Tehran, 26 January 2017 (Source: Kish Forex Dealing Agency)

Currency Rate
US Dollar 39282
(EU) Euro 42313
British Pound NA

* CBI = Central Bank of the Islamic Republic of Iran

25 January 2017

CBI Official rates TEHRAN 25 January 2017 (Source: CBI Website)

Currency Rate
USD 32,362
JPY100 28,531
EUR 34,739
GBP 40,523
CHF 32,329

Open market rates for major foreign currencies
Tehran, 25 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38550
(EU) Euro 42190
British Pound 48880

* CBI = Central Bank of the Islamic Republic of Iran

24 January 2017

BI Official rates TEHRAN 24 January 2017 (Source: CBI Website)

Currency Rate
USD 32,359
JPY100 28,661
EUR 34,802
GBP 40,479
CHF 32,441

Open market rates for major foreign currencies
Tehran, 24 January 2017 (Source: Mehr News Agency)

Currency Rate
US Dollar 38560
(EU) Euro 42470
British Pound 48820

* CBI = Central Bank of the Islamic Republic of Iran