Complex prediction for foreign currency rate in Iran

Finance Materials 29 July 2019 13:23 (UTC +04:00)

Tehran, Iran, July 29


Iran foreign currency rate prediction in the future is complicated since the external shocks have also affected the market, member of the Monetary and Banking Research Institute in Iran Kamran Nadri told Trend.

"If Iran's export and import face more problems it would hit the economy with new shocks and we won't not know what would happen," he said.

"Although it has been said before that we've seen the worst of sanctions already, it is possible than an unexpected event, such as a military conflict, would change everything," Nadri added.

"If local banks follow the CBI's prudential principles and act according to international standards, it will tame the liquidity growth to some extent," he added.

"Banks can prevent liquidity growth in two ways, one is the prudential principles and the second is reducing their needs with regards to the resources of the Central Bank," he said.

"If we can remove the official foreign currency rate, it would positively affect the free market rate. It appears that no decision has been made regarding assigning official foreign currency rate to basic goods and the government intends to do so," he said.