BAKU, Azerbaijan, June 13. Iranian petrochemical companies have an effective role in balancing the country’s foreign exchange market, Director General of the Central Bank of Iran (CBI), Ali Salehabadi said, Trend reports citing the bank’s website.
He made the remark during a meeting with members of the Association of Petrochemical Industry Corporation (APIC) on June 13, 2022.
“Petrochemical companies are important and major exporters of non-oil products in the country. Iran records increase in exports of petrochemical products for current year,” Salehabadi said.
The director general added that given the effective role of petrochemical companies, the CBI will also take steps to address the problems of these companies. The solution of problems in the petrochemical sector is definitely in favor of the country's economy.
Speaking at the meeting, Secretary General of the APIC Ahmad Mahdavi said that Iranian petrochemical companies have sold $3.27 billion worth of foreign currency to the country's banks under the NIMA exchange rate from the beginning of the current Iranian year (March 21, 2022) to June 13.
“In total, petrochemical companies are expected to sell at least $15 billion worth of foreign currency to the country's banks under the NIMA rate by the end of this year (March 21, 2022 - March 20, 2023),” Mahdavi noted.
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