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Iran exporters seek stable foreign currency rate

Nuclear Program Materials 16 May 2021 17:22 (UTC +04:00)
Iran exporters seek stable foreign currency rate

TEHRAN, Iran, May.16

Trend:

Iranian exporters would welcome the decline of foreign currency rate if it leads to stability, said the head of Iran Export Confederation Mohammad Lahouti, Trend reports via ILNA.

"The stability of foreign currency rate is an important factor for improving export, so exporters could plan for at least three months ahead," said Lahouti.

The increase of foreign currency rate in the last Iranian year (started March 20,2020) affected the field of export and the sudden decline of foreign currency in the current Iranian year (started March 21,2021) could create problems for exporters," he said.

"The price of commodities would increase drastically by rise of foreign currency rate and exporters would not have much of profit, since the price of basic material increases as well, therefore an exporter wants stability in foreign currency rate and sudden decline of the foreign currency rate could affect both production and export," he said.

"The superficial decline of foreign currency rate would lead to capital flow or rush toward property investment in the neighboring countries, and increase smuggling," he said.

"Apart from political issues, weak transportation and problems in port infrastructures, customs, packaging and low production in the country require attention," Lahouti said.

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