TEHRAN, Iran (AP) — Iran's central bank deputy governor said Monday that trading foreign currency outside of banks and licensed currency exchange operations was now banned, marking the government's latest attempt to stem an outflow of foreign currency.

 

Deputy Central Bank Gov. Ebrahim Darvishi said authorities were monitoring street vendors and currency trading operations, in what was the government's latest effort to shore up the currency which was being traded on the open market at rates differing from those set by the government. He said that any foreign exchange trade must come with a receipt or the funds would be confiscated.

"Do not take it to the market," Darvish said on state radio, referring to foreign currency such as the U.S. dollar. "Any investment in the field of foreign currency and the dollar is forbidden."

The ban — officially announced Sunday — comes as Iran looks to stem the outflow of foreign currency. The central bank said the move was aimed at curbing money laundering, with officials complaining that the exchange brokers were offering rates far removed from those set by the government.

On Monday, the U.S. dollar sold at 16,950 rials while the central bank had set the rate at 14,000 rials to the dollar.