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Bid-Ask Spread in Secondary Market a Bane of Exporters

Bid-Ask Spread in Secondary Market a Bane of Exporters  Bid-Ask Spread in Secondary Market a Bane of Exporters

The widening gap between the bid prices of foreign currency and their purchase in the secondary forex market could undermine the export sector growth, head of Iran Export Confederation said.
Currently the price gap is near 9,000 rials in this market, locally known as Nima, with buy prices being lower, according to Mohammad Lahuti. 
“This means that exporters have to sell their overseas earnings cheaper,” he wrote in a Tweet Saturday. 
Nima is an online platform affiliated with Central Bank of Iran where exporters sell their currency and companies buy it for importing non-essential goods, machinery, equipment and raw material. Nima rates are usually below open market rates. 

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