Forex Quota for Overseas Travel Cut by 75 Per­cent  

Financial Tribune:   The Central Bank of Iran cut the “currency quota” for outbound tra­ve­lers with a visa.  Accordingly, authorized exchange bureaus are not allowed to sell mo­re than €500 or equivalent in other currencies for air travel that requires a visa.  So far cer­tified moneychangers were allowed to sell no more than €2,000 for air travel to coun­tries that require a visa and €300 for visa-free countries. Likewise, travelers taking land, rail and sea routes for any destination could not get more than €300, according to IBE­NA, the news agency affiliated to the Monetary and Banking Research Institute. 

Passengers can buy the currency at official rates by showing an air ticket or other travel document. 

The CBI says travelers can purchase up to €2,000 or equivalent in other currencies from mo­neychangers at “negotiated rates”. This quota is for adult Iranians aged 18 and above once in a year. One dollar was sold for 278,000 rials at the Melli Exchange affiliated to the Bank Melli Iran on Tuesday. Those interested can buy the greenback at 30,000-307,000 rials at negotiated rates from certified moneychangers, according to the head of the Association of Bureaux de Change Operators. “Negotiated rates” is a recently-intro­du­ced term. Selling currency at negotiated prices commenced in May after the CBI deci­ded to encourage export firms to offer their forex earnings to moneychangers, allowing them to sell their proceeds at mutually agreed higher rates. Due to the unending vola­ti­lity in the currency market, the CBI in February announced new restrictions on purcha­sing foreign currency from the official markets to control what it said was “precautionary demand”.    

Official exchange shops affiliated to the CBI are allowed to sell foreign currency for 25 purposes, including travel, education, pilgrimage, treatment and the like. Apart from the­se needs, the authorized moneychangers were allowed in the past to sell €2,000 for “other purposes”. The CBI last November stopped forex allocation for miscellaneous pur­poses but resumed it in late May. 

Eurostat:   EU27-Iran foreign trade from January till May 2022 generated 2,076  mil­li­on Euro.

The 27 EU coun­­­tries exported goods worth € 1,611 million Euro (+6%) to Iran and im­por­­­ted goods worth € 465 million (+38%). Germany was the most important EU trade part­­ner of Iran, with a trade vol­ume of 779 million Euro, fol­lowed by Italy (266 million Euro) and the Netherlands (162 mil­lion Euro).

The European Union (EU27) export of goods to Iran in the first five month of the year 2022 stood at 1,611 mill­i­­on Euro, an in­crea­se of 6% com­­pared to January-May 2021. Ac­cor­­­ding to the la­test da­ta by Euro­stat, the sta­tis­tical of­fice of the European Union, 40% of the EU ex­­ports to Iran ca­me from Ger­­­many that de­­­li­ve­red goods worth € 648 million, that was 5% more than in the first five month of the year 2021. Second (12%) was Italy with ex­ports worth € 191 mil­­li­on (+6%), fol­lowed by the Netherlands (€ 132 million, -23%).

From January till May 2022 the 27 EU countries imported goods worth € 465 mil­li­on from Iran (+39%).  Most of the Iranian ex­ports to the Eu­­ro­pean Union (28%) went to Germany, which im­ported goods worth 131 mil­­lion from Iran (+12%), fol­­lowed by Italy 

(€ 75 mi­l­li­on, 4%) and Spain (58 million, +70%). 

Von Januar bis Mai 2022 erreichte der deutsch-iranische Außenhandel einen Wert von 787 Millio­nen Euro und lag damit im Ver­gleich zum Vorjahreszeitraum 7% höher.  Deutsch­land lieferte Wa­­­ren im Wert von 648 Milli­o­nen Euro (5%); die iranischen Lie­fe­run­gen nach Deutschand  lagen mit 139 Mio. Euro 14% höher als im Vorjahreszeitraum.

Wichtigste Warengruppen bei den deutschen Lieferungen nach Iran in den ersten fünf Monaten des Jahres 2022 wa­­­­ren Ge­treide (211 Mio. Euro), Ma­­­schi­­nen, Apparate und mechanische Geräte (115 Mio. Eu­ro), pharma­zeu­ti­sche Er­­zeug­nissen (70 Mio. Euro),  opti­sche, pho­to­­gra­fi­sche usw. Er­zeug­­nisse (47 Mio. Eu­ro), ge­folgt von elek­tro­­tech­­ni­schen Er­zeug­nisse (29 Mio. Euro), Tabak (27 Mio. Euro), und verschiede­nen Erzeugnissen der chemischen Industrie (25 Mio. Euro).

Die iranischen Liefe­run­gen nach Deutschland von Januar bis Mai 2022 setz­ten sich u.a. zu­sam­­men aus ge­niess­baren Früch­­­­­­­ten und Nüssen im Wert von 52 Mio. Eu­­ro, an­de­­ren Waren tie­­ri­schen Ur­­­­­­­sprungs (Häu­te und Schafs­­därmen, 27 Mio. Eu­ro), Perlen, Edel­stei­nen, Edelmetallen (14 Mio. Euro), sowie Teppi­chen (11 Mio. Euro) und pharma­zeu­­ti­schen Er­zeug­­­nis­sen (11 Mio Eu­ro),

Eine Ta­bel­le mit 98 Wa­rengruppen kann angefordert werden.  Nach Angaben des Statis­ti­schen Bun­des­amtes 

The Statistical Center of Iran (SCI) put the average inflation rate in the twelve-month pe­ri­od that ended on  June 21, which marks the end of the third Iranian ca­len­dar month of the Iranian year 1401, at 39,4 percent, 0.7 percentage points more from the fi­gure for the twelve-month period that ended on the last day of the month before.

The center put the country’s point-to-point inflation rate at 52,5 percent in the third month of this year, that is 13.2 percent more than in the month before.  Point-to-Point means that families have paid an average of 52.5 percent more for purchasing the same package of commodities and services in that month, compared to the same month in the year before.