EghtesadOnline: The government’s longstanding plan to unify Iran’s dual foreign exchange rate regime has faced several barriers, but a deputy economy minister said the plan is well and alive.
EghtesadOnline: Majlis Research Center has forecast that the government will meet its import tax revenue target set in the 2018-19 budget, while predicting a higher foreign exchange rate and a significant reduction in goods receiving subsidized hard currency in the year ahead.
EghtesadOnline: With too many irons in the fire, the government and the Central Bank of Iran do not seem to be in the mood for making tough decisions, especially in the foreign exchange market.
EghtesadOnline: The parliament supports the implementation of the long-delayed promise to unify the country’s dual foreign exchange rates, the chairman of Majlis Economic Commission said.
EghtesadOnline: Iran Chamber of Commerce, Industries, Mines and Agriculture has published a report explaining the impact of foreign exchange fluctuations on imports of raw materials, capital goods and consumer goods.
EghtesadOnline: The unification of foreign exchange rates should be accompanied by setting real exchange rates, otherwise the plan will fail as in the past, the head of Iran Export Confederation said.
EghtesadOnline: The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture has called for the unification of foreign exchange rates and criticized the current dual rate system.”
EghtesadOnline: The rial was quoted at 37,240 to the US dollar on Wednesday, gaining 0.59% against the greenback compared with Tuesday's close.
EghtesadOnline: When foreign exchange rates are unified, setting a fixed rate for it will be meaningless since foreign exchange rates, like any other commodity, are determined by supply and demand, a member of Iran Chamber of Commerce, Industries, Mines and Agriculture said.
EghtesadOnline: The Central Bank of Iran has managed to control foreign exchange rates and promote a relative stability in the forex market despite a turbulent season that saw the rial drop to historic lows against the dollar, the bank's deputy for economic affairs said.