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Export Firms Sell $18b in 8 Months, CBI Says


Export companies sold $18.1 billion in foreign currency in the secondary foreign exchange market, known locally as Nima, in the eight months (March 21-Nov.20). 
The amount was $10.7 billion in the corresponding period last fiscal year, the Central Bank of Iran reported.  
Nima is a currency platform at which non-oil exporters sell their overseas forex income in hawala and companies buy for paying their import bills. The rate in this market is usually lower than the open market aka as the free market. 
The CBI said the almost 70% rise in the currency traded via Nima indicates that the export “currency income repatriation is improving.”  
 

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