Iran blocks 2,300 foreign currency bank accounts as dollar price surges
The Iranian intelligence ministry (WAJA) has identified and blocked more than 2,300 foreign currency bank accounts that were used to trigger instability in the country’s forex market.
A Saturday statement from WAJA’s information and public relations department said that judicial authorities would prosecute the criminal acts of the holders of the bank accounts who it said were involved in profiteering practices through creating a demand bubble in the Iranian currency market.
The statement came on the day the US dollar hit an all-time high of over 360,000 against the Iranian rial. The dollar closed at 361,000 per the rial on Saturday after reaching 361,900 earlier in the day.
“Our investigations show these people have been involved in the illegal trade of foreign currency in the unofficial market or have carried out futures trading to disrupt the country’s forex market,” said the WAJA statement carried by the official IRNA news agency.
The rise in the price of foreign currencies in Iran came as there was no clear economic reason to justify the sudden surge. That comes as talks between the country and world powers to revive a 2015 nuclear deal have stalled for months with no breakthrough in sight.
The Central Bank of Iran (CBI) introduced various measures on Saturday to contain the rising forex prices. It said in a statement that foreign currencies will be available for sales of up to 2,000 euros per person or its equivalent in the US dollar as of Sunday.
The CBI said applicants will receive the dollar at a consensus price in currency exchange centers as well as in selected branches of four national banks. Local media reports said the consensus price of the US dollar against the rial was over 340,000 at the close of trade on Saturday.
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