Iran sets dollar purchase limits under new guideline

Iranian authorities have introduced new guidelines for people seeking to buy US dollars through banks and currency exchange companies, setting a daily purchase limit of $1,000 and an overall maximum of $10,000 under the reported rules.

The measures come as international sanctions continue to place pressure on Iran’s financial system. The new guidelines establish limits on individual purchases while allowing authorised financial institutions to continue selling foreign currency through designated channels.

A report by Iran’s Fars News Agency says the latest instructions apply to banks and currency exchange companies. Under the reported framework, customers can purchase up to $10,000 in total, although the amount they may buy on a single day is restricted to $1,000.

The rules also provide a procedure for customers seeking smaller amounts of foreign currency. People wishing to obtain between $100 and $1,000 can submit requests using their bank cards and national identity cards.

The arrangements establish different purchase limits depending on the amount requested, while requiring customers to use the designated identification and application procedures. The supplied report does not specify whether additional documentation or eligibility requirements apply to particular categories of buyers.

Selected bank branches and exchange offices will continue selling dollars at officially designated rates. Customers seeking foreign currency can also submit applications through dedicated online systems established for this purpose.

The continued operation of authorised sales channels means that the new guidelines do not amount to a complete suspension of dollar purchases. Instead, the reported framework regulates how much individuals can obtain and the procedures through which they can apply.

Foreign currency access is an important issue for households and businesses in economies facing restrictions on international financial transactions. In Iran’s case, sanctions have placed pressure on financial activity and complicated access to international markets, according to the context provided in the source material.

However, the available information does not quantify the effect of the new rules on Iran’s exchange rate, the volume of dollar demand or the availability of foreign currency across the country. It also does not establish whether the measures will be temporary or remain in place for an extended period.

For individuals planning to purchase dollars, the reported daily and overall limits are the main practical changes. Buyers will need to use participating branches, exchange offices or the designated online application systems, subject to the rules applicable to their transactions.

The announcement provides a clearer framework for authorised dollar purchases, but the broader effect on Iran’s currency market will depend on factors not detailed in the report, including foreign currency supply and demand and the continuing impact of international restrictions.