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Impact of Volatile Forex Market on Iranian Tech Firms

With the rial limping, overhead costs of technology firms have shot up and the purchasing power of most people has diminished. Put together, the predicaments have hit knowledge-based firms hard
Impact of Volatile Forex Market on Iranian Tech FirmsImpact of Volatile Forex Market on Iranian Tech Firms
A “slight” price hike for someone with vast financial resources might mean negligible, but for someone else the same amount is tantamount to a fortune

Vice President for Science and Technology Sorena Sattari says compared to other sectors, the recent volatility in the forex market has had a “slight” impact on knowledge-based firms. But businesses argue that the economic headwinds have led to a significant decline in demand for services, and when paired with increased overhead, have put companies under the cosh.
“No one can say that the recent volatility in the forex market has created a favorable condition for the growth of knowledge-based firms. However, compared to other sectors these companies have been less affected by the situation,” he said.
Stabilizing currency policies will do much to alleviate the problems such firms have been facing.

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