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Iran needs solution for eliminating official USD rate to cover import - First VP

Finance Materials 1 February 2021 15:19 (UTC +04:00)
Iran needs solution for eliminating official USD rate to cover import - First VP

BAKU, Azerbaijan, Feb.1

Trend:

Eliminating the official currency rate in Iran of 42,000 rials per USD is in the interests of the country, but the solution to keep it should be logical, and be in interests of the people, said Iran's First Vice President Eshaq Jahangiri, Trend reports via Tasnim news agency.

"The decision over elimination of the official foreign currency rate should not be based on emotions and the country's import should not be interrupted," said Jahangiri.

"it is important that importing necessary commodities would not be halted, especially in the first three months of new Iranian year (starts March 21,2021). Ir is very important since its Nowruz holidays and Ramadan ahead and it is necessary to have precise planning for commodity supply," he said.

"The country has imported $2.5 billion worth of medicine and medical equipment for the assigned official foreign currency rate," he said.

"The official foreign currency rate has dropped from 38,000 to 42,000 rials per USD in 2018, and that year about $16 billion was assigned to the import of necessary goods," said Jahangiri.

"However the Central Bank of Iran eliminated import of some commodities in the current Iranian year (started March 20,2020), and $8 billion was assigned for import, based on official foreign currency rate," he said.

"While domestic production is one of the priorities of the country but the international issues should be resolved, so that the officials could focus on development rather than meeting for fighting sanctions and supplying necessary commodities," he said.

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