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Gov’t Weighing Impact of Forex Measures on Trade

Gov’t Weighing Impact of Forex Measures on Trade Gov’t Weighing Impact of Forex Measures on Trade

The government is assessing the effect of unified exchange rates on the country’s exports and imports to find the best strategy for foreign trade, the head of Trade Promotion Organization of Iran told top exporters. 
Mojtaba Khosrotaj also referred to the government’s decision to impose an exchange rate of 42,000 rials for the US dollar and said a “managed floating” rate would soon replace it.
The meeting, which was attended by 100 of the country’s top exporters, focused on recent foreign exchange measures announced by the government, including controls on ways exporters can use their foreign currency earnings. 
The new measures were announced on April 9 by First Vice President Es’haq Jahangiri after an emergency Cabinet meeting chaired by President Hassan Rouhani was held to stem the rial’s precipitous slide since the beginning of the current fiscal year on March 21.
He announced at the time that the US dollar for all purposes, including imports, travel, students and research projects, will be offered by the government without limit at the exchange rate of 42,000 rials. 
 

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