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.
