The regime effectively closed down the open market in mid-February but allowed it to reopen after Now Ruz.
Since Now Ruz, the website Mesghal and the website of the Association of Exchanges for Iran have posted frequent selling prices for the dollar. They have ranged from a low of 18,860 rials to a high of 19,100.
The Central Bank has stuck firmly to the official price of 12,260 rials per dollar that was established in late January.
Few expect that price to survive long since it is so far out of line with the free market price. The government is losing money fast by selling dollars for 12,260 rials.
The Islamic Republic News Agency said the government is now providing foreign currency at the official rate for about half of Iran’s imports. Based on last year’s level of imports, it said that would mean selling $30 billion a year at the subsidized rate.
