Central Bank Launches Second Hall of Commercial Currency Market

Effective from

19 November 2025

Issued by

Central Bank of the Islamic Republic of Iran

Reference

No. 404082646836

The Central Bank of the Islamic Republic of Iran has announced, through its Foreign Trade Affairs Office, the launch of a “second hall of the commercial currency market” at the Iran Foreign Exchange and Gold Exchange Center. The stated purpose is to increase transparency in currency transactions and to facilitate the fulfillment of foreign exchange obligations for the commodity group covered under clause 2 of the executive bylaw of Note 6 of clause (h) of Article 2 bis of the Law to Combat Smuggling of Goods and Currency.

Under the new arrangement, the foreign exchange needed to import a portion of the goods the country requires will be available only from currency resources generated by exports that are offered for sale in this market. Exporters are accordingly invited to approach their authorized banks to sell their export-derived foreign currency to importers who are eligible to purchase currency through this channel.

The Central Bank has also approved a detailed set of Commercial Currency Market Transaction Instructions governing operations at the Iran Foreign Exchange and Gold Exchange Center, adopted by resolution of the Central Bank’s Currency Commission on July 29, 2025 (16/16, dated 07/05/1404). The instructions define buyers and sellers in two tiers: a first group consisting of the Central Bank and other qualified sellers or buyers, and a second group consisting of small exporters designated under the Seventh Development Plan Law, foreign investors, and other qualified sellers, along with importers approved by the Ministry of Industry, Mine and Trade. The instructions set out both indirect transactions, conducted through credit institutions acting as brokers under Central Bank rules, and direct transactions between second-group buyers and sellers, along with rules covering order placement, clearing and settlement, applicable fees, and the oversight role of the Central Bank’s Foreign Exchange Market Monitoring Department. Credit institutions participating in the market must execute an agreement with the Exchange Center and are bound by conduct requirements covering order accuracy, currency delivery timelines, and settlement of obligations between institutions.

Importers whose goods fall under the currency-trading group affected by this rule, and exporters holding eligible foreign exchange proceeds, should coordinate with their authorized banks to participate in the new market channel and should review the applicable transaction instructions for order placement, settlement deadlines, and fee obligations before relying on this mechanism to fund import currency needs or sell export proceeds.

Key Details

• Approval authority: Central Bank of the Islamic Republic of Iran
• Responsible organization: Not specified
• Classification: Resolution
• Affected procedure: Exporters’ Currency Repatriation Obligations
• Document number: Not specified
• Unique identifier: 404082646836
• Document date: August 8, 2025
• Publication date: November 17, 2025
• Effective date: November 19, 2025
• Expiration date: Not specified

This summary is provided for orientation only. The official Persian text issued by the relevant Iranian authority is the governing version.