US dollar depreciation in Iran not an economic issue, says official

Business Materials 16 November 2018 13:34 (UTC +04:00)

Baku, Azerbaijan, Nov. 16

By Elnur Baghishov – Trend:

Depreciation of the US dollar in Iran is due to political issues, Majid Reza Hariri, a member of the Staff of Representatives at the Iranian Chamber of Commerce, said in an interview with ISNA.

Economic parameters don’t have so much impact on the rise or decline of the currency value, he added.

He said the rise or decline of the US dollar value testifies to instability in the country’s economy.

Hariri added that the Central Bank should control depreciation of the US dollar, and also should prevent the rise of its value.

"Currently, a process of slow depreciation in the foreign currency is observed, because small entrepreneurs have been forced to put their foreign currencies for sale in the market," he noted.