Dollar Crisis Ended By Announcement of a Single Currency Rate

Dollar Crisis Ended By Announcement of a Single Currency RateDuring the last three days, as published at this “MEDIA“, a sharp financial shock to Iran’s industry and trade sector came with a sharp rise in the hourly increasing rate of foreign exchange in Iran’s foreign exchange markets. During these three days, almost production and trading were shut down, and all the economic activists wondered what would happen next?

This morning, the government under the pressure of the economical activists decided to end the crisis, and finally, at the close of midnight, the decision of the currency crisis review committee announced its view through the first vice president. Mr. Jahangiri announced a currency exchange rate of 4,200 Rials for each dollar in attendance in TV program, and stressed that this currency would be provided to those who are legally required.
We will discuss with you the background of this statement, which is the statement made by the spokesperson of the government and the Minister of Economic Affairs and Finance. ?

the source for both texts is ” “IRNA

Iran vows to bring forex market under control

Tehran, April 9, IRNA – Spokesman of the Iranian government Mohammad Baqer Nobakht said on Monday that despite the dissatisfactory conditions surrounding Iran’s forex market, the government will do its best to balance the market.

Speaking to reporters at the end of a meeting of Resistance Economy’s Command Headquarters, Nobakht said that the government is not satisfied with the current conditions of the country’s forex market.

The meeting was attended by ministers of petroleum, road and urban development, cooperatives, labor and social welfare, agricultural jihad, culture and Islamic guidance, defense and economic affairs and finance, as well as the head of Plan and Budget Organization and a number of other Iranian high-ranking officials.

Nobakht said that upon an order by President Hassan Rouhani, a committee has been set up to bring the country’s forex market under control.

Referring to adopting new policies for controlling Iran’s forex market, the official said that the policies were finalized today in a meeting in the presence of President Rouhani and will come into force within the next few days.

Gov’t, president to examine forex fluctuations, instability

Tehran, April 9, IRNA – Iran’s Minister of Finance and Economic Affairs Masoud Karbasian said on Monday that President Hassan Rouhani and his cabinet ministers are to examine current status of foreign exchange in the market along with the proposed plan made by CBI on recovering market stability.

Speaking to reporters, Karbasian said the government spokesman has already declared the government official stances on the current status of foreign exchanges and in tonight session, all aspects will be examined to help reorganize and recover the market and bring calmness to it.

Government is opposed to such market developments as it believes that there is no justification for such price hikes, he said. Security apparatus and police should be accountable for role of mafia in the market turbulence, Karbasian underlined.

To attain the economic goals, the current rate of foreign exchanges should decline to experience a market stability, he said. Parliament and government have formed a joint committee to help resolve the issue, he said.

Dollar Crisis Ended By Announcement of a Single Currency Rate

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