691.006/133: Telegram
The Chargé in Iran (Engert) to the Secretary of State
[Received January 26—9:30 a.m.]
10. Legation’s 126, December 8, noon and 3rd paragraph my 1, January 3, 11 a.m.48 By decision of Council of Ministers basis of foreign exchange control has been radically altered. Although text is somewhat obscure it seems that henceforth private exporters of first and second class merchandise will receive saleable exchange sales certificates carrying conditional rights to obtain order—authorization for half the value of commercial exchange surrendered to an authorized bank while remainder will be utilized by Government organizations including Markazi.
Although official exchange rate remains at 80 rials to the pound, deferred exchange permits maturing after January 18th relating to [Page 759] merchandise not then cleared from customs will not be valid and importers will therefore be obliged to purchase at unofficial rates certificates mentioned above in order to secure exchange for remittance abroad. Bazaar rate today about 140 rials to the pound.
The Legation and Consulate will report further as soon as possible.
- Neither printed.↩