Dollar to be 42,000 Rials from Tuesday; other unofficial prices considered illegal/Businesspeople, public won’t have any concerns for purchasing their required currency

The exchange rate of US dollar will be 42,000 Rials from tomorrow (Tuesday) for all businesspeople to meet their legal needs, travellers, students, researchers and scientists who require currency for their research.

Mon 09 - April 2018 - 23:48

Speaking after the extraordinary meeting of government’s economic board for managing currency market chaired by President Rouhani, First Vice-President Dr Es’haq Jahangiri said: “With this exchange rate, the required currency for all sectors will be supplied by the Central Bank of Iran (CBI), bureaux de change, and banks under the control of the CBI”.

He continued: "Businesspeople and people mustn't have any concerns for purchasing their required currency with this exchange rate".

Referring to economic stability as one of the responsibilities of the government, he said: "One of the most important achievements of the 11th Government was establishing economic stability in the country, including decrease in the rate of inflation and reducing in to a single digit rate".

"Unfortunately in recent years, the currency market experienced problems that caused concerns for people and businesspeople," he continued.

Dr Jahangiri also referred to the efforts by enemies, especially the US, for portraying Iran's economy as turbulent and added: "Fortunately, with the serious work that has been done in the international stage, we had agreements with different countries for billions of dollars of finance".

"In the past 5 years, our currency reserves have been a lot more than our needs and in some years, we have had 15 to 20 billion surplus currency for our essential economic purposes and import of goods and services," he continued.

Stating that no other exchange rate will be recognised, he said: "To us, any unofficial currency exchange rate will be considered illegal like smuggling, and no one had the right to buy or sell currency with any other rate".

news id: 103849  

- Domestic Meetings