Industrial FX Allocation

Iran Kicks Off $2bn Industrial FX Allocation; Central Bank Adds $4.5bn to Reserves, Vows No Return to Subsidized Rate (Monday, July 6, 2026)

Iran's central bank governor says the country's foreign currency reserves grew by $4.5 billion during the recent war months, and that a first $2 billion phase of industrial FX allocation began Saturday, July 4. Governor Hemmati stressed the bank will not revive the old subsidized "preferential rate" system. The move coincides with revenue from a temporary US license letting Iran sell oil for dollars.