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Iran’s ICT market is in a state of coma.
Iran’s ICT market is in a state of coma.
Saturday, April 28, 2018

Iran ICT Sector Crippled by US Dollar Exchange Rate Uncertainty

Following fierce fluctuations in the forex market, the Iranian government in an overnight move unified the US dollar exchange rate at 42,000 rials. The move and the uncertainty it entailed has perplexed the ICT market to the point where most of businesses
Many are hesitant to subscribe to a rate set by the government and not by the market saying that the US-rial exchange rate is actually way higher than the declared 42,000
Saturday, April 28, 2018

Iran ICT Sector Crippled by US Dollar Exchange Rate Uncertainty

The recent forex fluctuation, disrupting foreign deals and seeing prices going through the roof, has left the ICT businesses in disarray, according to several business owners active in the sector.
It has been more than two weeks since the government of President Hassan Rouhani unified the US dollar exchange rate at 42,000 rials, in response to the rate hitting record levels as high as 63,000 rials.
While the administration has promised to distribute the "42,000-rial dollars", many firms are yet to get their hands on the greenback at the official rate with many calling it nonexistent. This has perplexed the ICT market to the point where most of businesses refuse to sell products and many are unwilling to buy.
The newsroom for Iran Chamber of Commerce, Industries, Mines and Agriculture has conducted several interviews with big-time firms to better capture the status of the market.

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04/28/2018
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