Iran minister: Controlling currency fluctuations better than cutting rates
Tehran, Iran, Feb. 5
Iran’s Minister of Economic Affairs and Finance Farhad Dejpasand has expressed hope that the Central Bank of Iran will continue to control the foreign currency fluctuations.
“The foreign currency fluctuations are harmful, therefore controlling them is more important than cutting foreign exchange rates,” said Dejpasand in a meeting with young tech entrepreneurs, Trend reports citing ILNA.
“The Central Bank is controlling the market without suppressing the foreign exchange market. We hope the situation improves,” he added.
Referring to foreign exchange regulations for exporters of tech products, he said: “According to the law, if the exports of tech companies are less than €1 million, they are exempted from returning revenues to NIMA.”
Iran launched NIMA to control the foreign exchange market by demanding exporters to return their foreign currency revenues to this system to improve transparency and fix the market fluctuations.