Economy, Business And Markets

Call for Cheap Currency Elimination

Call for Cheap Currency Elimination Call for Cheap Currency Elimination

President of Iran Chamber of Commerce, Industries, Mines and Agriculture called for the total elimination of cheap currency offered at the 42,000-rial exchange rate. Speaking at the 77th Government-Private Sector Dialogue Council on Monday, Gholamhossein Shafei said the subsidized, official currency is only serving the well-off and not the public. He proposed that instead, assistance should be offered to the needy in the form of targeted subsides. Since August 6, the government shortened the list of goods imported at the officially subsidized foreign exchange rate, although essential goods continue to receive forex at preferential rates. The latest Government-Private Sector Dialogue Council was held at ICCIMA with the Minister of Industries, Mining and Trade Mohammad Shariatmadari in attendance. 


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