Iran allows exchange stores to trade in foreign currency

TEHRAN, Iran (AP) — Iran’s Central Bank has issued a directive allowing licensed exchange offices to resume buying and selling foreign currency, days after traders protested over the worsening economic situation. The country’s state-run media reported on the development on Thursday. Iran had banned all trading by individuals at private exchanges since 2018, allowing these offices to only work with government-approved importers or exporters. The directive is aimed at injecting more dollars into the market to continue stabilizing the exchange rate. Iran’s currency, the rial, was trading at 319,000 to the dollar on Thursday, a gain from 332,000 on Sunday.