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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