Baku, Azerbaijan, Jan. 15
By Elnur Baghishov - Trend:
Approval of the organized currency market rules in Iran’s Money and Credit Council is a positive step and is a factor of transparency in the sale and purchase operations, Hossein Salemi, deputy chairman of the Commission on Money and Investment Market of the Iranian Chamber of Commerce, Industries, Mines and Agriculture, said in an interview with Ibena news agency, Trend reports.
He said that the organized currency market gives the opportunity to define the level of foreign currency prices and determine the demand and supply.
If the decisions regarding the organized currency market were approved in the previous years, there would be no rial and foreign currency problems, he noted.
Because a part of foreign currency obtained from exports couldn’t be returned to Iran’s economy due to sanctions and restrictions in foreign currency transit, all this created a great need for foreign currency, he added.
“Presently, the need for foreign currency is high, there is no liquidity in the industry, and on the other hand, banks have faced restrictions in issuing loans,” he said.
“Unfortunately, in recent years, the citizens have lost confidence in foreign currency deposits,” he noted.