Gov’t acts to stabilize market, ensure cash availability
The Trade Promotion Organization of Iran (TPO) announced a ban on the export of eggs, potatoes, tomatoes, and Mazafati dates until further notice. This decision was made based on correspondence between the TPO and Iran Customs Administration (ICA), within the framework of market regulation policies of the Ministry of Agriculture Jihad, and considering the special circumstances of the country.
According to IRNA, this measure aims to stabilize the market and the country’s economic conditions. The measure is also intended to control prices and ensure domestic needs are met, IRNA wrote .
Simultaneously, the distribution of 10-million-rial banknotes has begun in selected bank branches nationwide. The Central Bank of Iran (CBI) announced that the move aims to complete the banknote supply chain under specific circumstances, ensuring people will not face a shortage of cash in any area.
The CBI, reiterating the importance of using electronic payment systems (cards, mobile payments, internet banking), stated that the measure is a new step to further facilitate meeting the public's cash exchange needs. This reinforces cash availability for the public, while the country's electronic banking network remains the primary transaction hub.
The CBI began circulating newly issued five-million-rial notes on Feb.1 through the banking system to ease cash transactions.