MRC Censures Policy of Curbing Currency Rates

The Majlis Research Center scrutinized the policy of “curbing exchange rates” adopted by successive governments and concluded that it has harmed the economy in more ways than one.
In a report the parliamentary think tank reflected on how the people have become sensitive to the unending volatility in foreign currency rates and how central banks in all previous governments manipulated forex rates to appease the public and tame inflation expectation.
“In their approach to the currency market, governments suppressed forex rates without considering the monetary dynamics, such as the unprecedented growth in money supply,” the MRC said.