Dual Exchange Rate System Criticized

The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture has called for the unification of foreign exchange rates and criticized the current dual rate system.”

A multiple exchange rate regime calls for allocation of subsidies to imports and prepares the ground for rent-seeking and lack of transparency,” Masoud Khansari was also quoted as saying by Financial Tribune during the chamber’s meeting with members of the press.

Khansari referred to foreign exchange as a major issue of the Iranian economy, adding that the chamber has never advocated higher foreign exchange rates.

“We want real exchange rates, whatever they may be, to be regarded as the main criterion for policymaking,” he said.