Iran’s industry minister: US dollar reasonable exchange rate is 30,000 rials
Azerbaijan, Baku, Oct.14/ Trend F.Karimov/
In September, a member of Iran's Chamber of Commerce, Industry and Mines said it will not allow the US dollar to fall below 30,000 rials.
"The country's economy is based on a price of 31,000 to 32,000 rials for the USD, so any fluctuation of the exchange rate would lead to instability in the market," the Jame News website quoted Masoud Daneshmand as saying.
"If the price of the USD falls to 20,000 rials, businesses that imported goods at the price of 30,000 rials would bear a great loss, while those who imported at the price of 20,000 rials may try to take advantage of the situation and sell their goods at a higher price," Daneshmand said.
"Besides, the country's budget is based on the price os 25,000 rials per USD," he said.
Meanwhile, the Iranian Central Bank Governor has said that the U.S. dollar exchange rate in Iran is reasonable and any further fall of the rate will be harmful to the Iranian economy.
The current free market exchange rate is reasonable. It is the bottom rate and it will not really fall further, Valiollah Seif added.
"An optimistic point of view in society has led to a decline in the exchange rate. Any further decline would have negative consequences," he said.
Iran's exports will decline if the U.S. dollar exchange rate falls below 32,000 rials, a chamber member has said.
Avaz Mohammad-Parsa told ISNA that the dollar exchange rate should be between 32,000-33,000 rials, otherwise exporters will suffer losses.
The recent visit of President Hassan Rohani to New York has created a positive psychological atmosphere in the market. So, foreign currency exchange rates have declined, he explained.
On July 9, Iran's central bank posted an official exchange rate of 24,777 rials per dollar on its website replacing the fixed rate of 12,260 rials, officially adopting a single rate.