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EghtesadOnline: As the Central Bank of Iran is continuing its rate unification and market control policies, the Tehran police force is maintaining its support for the regulator by cracking down on speculative and illegal activities.

“Last week, more than 44 unlicensed bureaux de change were closed and 38 foreign currency speculators and unlawful dealers were identified and arrested,” Tehran Police Chief Brigadier General Hossein Rahimi was also quoted as saying by Fars News website.

The official said his forces are working in tandem with the judiciary’s anti-smuggling and price regulating agency concerning speculative activities in the currency market.

“The police will execute its mission concerning the currency market with full force,” he declared, adding that he and his colleagues recently had a meeting with CBI Governor Valiollah Seif in which they pledged to continue cooperation with the central regulator, Financial Tribune reported.

The meeting took place late Monday at the central bank and was also attended by Tehran Governor Mohammad Hossein Moqimi who reaffirmed his commitment to combating speculative activities in currency hubs.

“So far, 21 currency speculators have been arrested and after 256 units engaging in unlicensed money exchange activities were introduced by CBI and became subject to investigations, 49 units whose violations were proven were closed,” he said.

This is while on April 18, police spokesperson Saeed Montazer Al-Mahdi announced that more than 80 unlicensed money exchange shops were closed in the preceding week.

“More than 70 money exchangers whose documents were not approved by the Central Bank of Iran were issued closure notice,” he added at the time.

Montazer Al-Mahdi had also vowed that people flouting CBI regulations will be met with disciplinary action, noting that 39 currency speculators were arrested on last Tuesday.   


Central Bank of Iran Iran Unlicensed Exchangers rate unification