Revocation of Subsidized Forex Allocation Policy Expected

The subsidized foreign currency allocation policy (at the rate of 42,000 rials per dollar), which was ratified and implemented during the second term of former president, Hassan Rouhani, didn’t do the economy any good and the only wasted the country’s forex resources.
Mohammad Lahouti, the head of Exports Confederation affiliated with Iran Chamber of Commerce, Industries, Mines and Agriculture, noted that the new administration of President Ebrahim Raeisi is well aware of this, which makes one optimistic that this policy could be revoked.
“Raeisi’s administration has admitted that the policy gives rise to corruption, as some importers and consumers have been left out of the benefits resulting from these allocated subsidies. This is why the subsidized foreign currency allocation policy is expected to be gradually rescinded,” Lahouti was quoted as saying by Fars News Agency.