Second Hall of Commercial Currency Market Launched

Effective from

19 November 2025

Issued by

Central Bank of the Islamic Republic of Iran

Reference

No. Not specified

The Central Bank of the Islamic Republic of Iran has approved a revised directive governing trading on the commercial currency market of the Iran Currency and Gold Exchange Center, establishing a “second hall” of that market. According to the Central Bank’s Office of Foreign Trade Affairs, the second hall is intended to increase transparency in currency transactions and facilitate the fulfillment of foreign-currency obligations by the group of goods covered under clause 2 of the executive bylaw for note 6 of clause (h) of article 2 (bis) of the Law to Combat Smuggling of Goods and Currency. Under the arrangement, the currency needed to import part of the country’s required goods will be sourced solely from export currency proceeds offered on this market, and exporters may approach their operating banks to transfer their export currency to importers who are eligible to purchase currency through this channel.

The directive, comprising 43 articles and 4 notes, was approved by decision No. 16/16 of the Central Bank’s Currency Commission, dated 07/05/1404 on the Iranian calendar. It defines two categories of sellers and two categories of buyers. First-group sellers are the Central Bank and other qualified sellers determined by the Central Bank; second-group sellers are the Central Bank, small exporters designated under the Seventh Five-Year Development Plan Law, foreign investors, and other exporters or persons deemed qualified by the Central Bank. First-group buyers are the Central Bank, importers, and other persons who hold a valid currency allocation from the first-group funding channel of the exchange center; second-group buyers are the Central Bank and importers approved by the Ministry of Industry, Mine and Trade who hold a valid allocation from the second-group funding channel.

The directive establishes two transaction methods. Indirect transactions are conducted between buyers and sellers through a licensed credit institution acting as broker, with the institution responsible for guaranteeing the availability of currency, settling matched orders, and crediting funds to the final beneficiary within specified time limits (generally 24 hours for confirmations, and 10 to 20 business days for currency settlement depending on the clearing outcome). Direct transactions are conducted between second-group buyers and sellers, or their credit institutions, directly on the trading platform, with the buyer required to fund the full rial value of the transaction, including any premium and fees, in advance; upon confirmation of receipt of currency by the buyer, the transaction obligation is considered fulfilled and a goods clearance authorization is issued through the relevant currency systems.

The directive also sets out fee structures, with maximum transfer, conversion, and brokerage fees for credit institutions to be announced by the Central Bank, and exchange center fees to be set by the Currency Commission; Central Bank transactions are exempt from these fees. Market oversight rests with the Central Bank’s Currency Market Monitoring Department, which is responsible for setting daily price fluctuation bands, publishing exchange rates, determining trading session timing, and suspending trading in one or more instruments when necessary. The exchange center may also halt trading temporarily in the event of technical or system disruptions, in coordination with the oversight authority. All participants, including credit institutions and buyers and sellers, are required to review and electronically sign commitment agreements before trading and remain bound by all applicable national laws and Central Bank directives.

Key Details

• Approval authority: Central Bank of the Islamic Republic of Iran
• Responsible organization: Not specified
• Classification: Approval Notice
• Affected procedure: Exporters’ Currency 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.