|USD should rise to 32,000 rials, otherwise exports will harm: Iranian official||
TEHRAN – Iran’s exports will decline if the U.S. dollar exchange rate falls below 32,000 rials, a member of Iran’s chamber of commerce, industry, and mine 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 U.S. dollar free market exchange rate hit 30,900 rials on Thursday.
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 a dollar on its website, replacing the fixed rate of 12,260 rials, officially adopting a single rate.
Before this move, the government applied different exchange rates depending on the type of business seeking currency. Importers of essential goods like medicine were given access to currency at lower rates than those bringing in less-essential products. Ordinary Iranians purchase the dollar on the unregulated market at more expensive rates.
Rohani, who succeeded Mahmoud Ahmadinejad, has said he seeks to revive Iran’s economy by improving relations with the world and seeking relief from economic and financial sanctions.
Earlier this month, ISNA quoted the chamber of Iran’s commerce, industry, and mine chairman Asadollah Asgaroladi as saying that Iran’s non-oil exports will certainly stand between $37-38 billion in the current Iranian calendar year, which will be far less than the projected figure of $60 billion.
This year’s national budget bill has envisaged that non-oil exports will reach $60 billion. But, the value of exports will hardly reach $40 billion, he said.
In May 2012, Trade Promotion Organization of Iran Deputy Director Kiyumars Fat’hollah Kermanshahi said that annual imports and exports are projected to reach $77 billion and $83 billion respectively by March 2016.
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