Financial Tribune - Informed sources say the ban on auto imports introduced in June by the government will be extended to the next fiscal year that begins in March.

President Hassan Rouhani will present next years’s budget bill to Parliament this week. According to an unnamed source, “In the budget bill, the government has set its income from auto imports at zero. This means that it has decided to extend the car import ban into the coming year,” the Persian-language economic daily Donya-e-Eqtesad reported.

Following US President Donald Trump’s decision in May to pull out of the historic Iran nuclear deal and re-sanction Tehran, the rial tanked and its value plunged to unprecedented lows.