Deputy Minister: Government will not Allocate Foreign Currencies to Free Markets

Deputy Minister Government will not Allocate Foreign Currencies to Free Markets

Despite the currency crisis happening in Iran, the deputy minister of Industries and Business, Mahmoud Dodangeh, has announced that government is not going to supply any foreign currencies to free markets in order to stabilize the currency prices and save the value of Iranain Rial.

“Central Bank of Iran provides cheap currencies to certified importers in the new foreign exchange center. We will try to cover more groups of traders in this project. According to the ratified rules, government is allowed to spend 20% of National Development Fund sources in agricultural and industrial fields which include the official foreign exchange center.” Mahmoud Dodangeh said. He also added that government will not provide foreign currencies for traders in free markets.

Recently the Iranian Rial has lost two third of its value against foreign currencies especially U.S. Dollar. The problem is derived from the economic sanctions against this country. Base on the restrictions, Iran cannot ship its oil to European countries so its oil production rate has been reduced dramatically. However Iranian government denies the affects of the mentioned sanctions.


He is a student of Economics , pursuing the same from Delhi University . Apart from Writing , He is quite passionate about Photography as well . His other hobbies include playing cricket and listening to music . Currently He resides in Delhi . He was invited to join Kabir News agency in 2012 after opening the official website . Phone number: +9999936738 , Email address: Saurabh (at) KabirNews.com

Leave a Comment