Central Bank Urgent Directive: New Decision to Regulate Essential Goods Prices

The Central Bank issued an urgent foreign exchange circular introducing new guidelines for the supply of essential goods through the end of the year. Under the decision, tens of millions of dollars in new funds will be injected into the market.

According to the directive of the General Directorate of Foreign Exchange Operations, instructions for granting foreign exchange facilities of 60 million dollars from the sources of banks for the import of basic goods were announced. This measure will be implemented following the approval of the Central Bank and with the aim of maintaining food security and the continuity of the supply chain until the end of this year.

Previously, with the onset of regional crises and the emergence of restrictions in the Central Bank's foreign exchange resources, the management of the commodity market by focusing on prioritizing imports and accelerating the allocation of currency to livelihood items was placed on the agenda of monetary and commercial institutions.

According to this announcement, the allocation of these facilities is made directly from the internal resources of the operating banks. Also, bank branches are obliged to inquire about the availability of resources from the General Directorate of Foreign Affairs and the Foreign Exchange Support Department before issuing the currency allocation certificate.