Travel Currency Rules Updated

Financial Tribune – The Central Bank of Iran has updated rules concerning the forex ceiling for travelers when entering or exiting the country.

According to a directive published on CBI’s website, travelers who leave the country by air can carry €5,000 or its equivalent in other currencies.

The statement adds that passengers leaving the country through land, rail or sea routes are only allowed to take out up to £2,000 each. However, travelers would have to declare them at the customs gateway.

CBI adds that bringing in hard currency worth up to £5,000 or its equivalent in other currencies need not be declared to customs officials, but any amount exceeding this can be deposited with the banking system on which interest will be paid.

According to CBI’s statement, all the rules regarding the hard currency cap will also be applicable to bank instruments and securities.

Date : Monday 14 May 2018 / Subject : Economic News - International News / Source : Financial Tribune