How did the failure of the price of unofficial currency and the decline of demand for dollars / queues to buy currency accumulate?

According to the economic correspondent of Fars news agency, in recent days we witnessed inflammation in the foreign exchange market in such a way that the price of the dollar was accompanied by an increase of 2 thousand tomans.

This increase in the exchange rate occurred in a situation where no special event is observed to increase the prices, in fact there have been no negative changes in diplomatic relations, economic indicators, currency supply, etc., and no new laws have been approved regarding the currency supply.

Economic experts believe that in such current conditions, the central bank should manage the foreign exchange market with intelligent intervention, of course, this management does not mean currency sprinkling or freeing the market, and this institution should move in this direction with intelligent management.

On the other hand, one of the criticisms of the government and the central bank is related to the continuation of allocating foreign currency to ordinary people of the society with national cards in such circumstances; Based on this, every Iranian is able to receive 2,000 dollars or 2,000 euros annually from exchange offices or bank branches, which has caused the increase in the movement of brokers and turning to methods such as renting national cards of fellow citizens.

* Quota currency is like the hands of the central bank for intelligent intervention in the market

This issue has faced many criticisms from economic experts; Of course, on the other hand, a group of experts are of the opinion that the quota currency is like the hands of the central bank for intelligent intervention in the market, and the possibility of this intervention should not be eliminated in a situation where some people are trying to raise the rate with fake transactions.

According to the statements of the spokesperson of the Subsidy Targeting Organization in recent days, the information of the people who receive quota currency will be registered in the system of the Iranian welfare base, which will lead to a change in the subsidy tithe or the removal of their subsidy, in addition to these issues. Taxes will also be applied to currency buyers. It seems that such measures are taken in order to inform the public about the consequences of cooperation with currency brokerage networks.

* Maintaining the national monetary value is the duty of the central bank

In this regard, Behzad Elameli, deputy director of Central Bank’s export department, in a television interview, one of the mainthe most He considers the duties of this institution to maintain the value of the national currency and says: in the banking monetary law and the upstream laws in the area of ​​currency, duties have been considered for the central bank in order to strengthen the value of the national currency, although the value of the national currency is subject to various factors, including inflation, which itself This variable depends on various other components such as the financial policies of the government and parliament.

He went on to explain the country’s foreign exchange market and stated: We have two official and unofficial markets in the country, the share of the unofficial market is unclear and at the same time opaque, on the other hand, the official market is transparent, large and local to meet the needs of the country.

The Deputy Director of the Central Bank’s Export Department added: Unfortunately, most of the media’s attention has been on the informal market, which has different suppliers and buyers, and where buying and selling currency is subject to risk.

He stated: In recent days, due to excitement and also the transfer of resources between parallel markets, we have witnessed the formation of an upward trend in the informal currency market, unfortunately, psychological factors and a significant increase in the production and dissemination of negative news have also become the cause. .

Lameli emphasized: Every day, more than a thousand articles about the currency issue are published on social networks, which indicates that some people are seeking to create inflammation in the market, which causes excitement and, as a result, changes in people’s tastes and an invasion of the informal market. currency has been

* In the last 20 days, the supply of currency in the Nima system has doubled

This official regarding the actions of the central bank to control the exchange rate said: Knowing about the demand, the central bank increased the amount of currency supply in the Nima system, so that in the last twenty days, on average, the amount of demand has doubled daily. , has been offered in the Nima currency system.

He continued: Also, in two consecutive days, he has allocated more than 600 million dollars to the applicants, in different and available currencies, the weighted average of remittances of Nima systems was between 27,500 and 27,600 tomans.

* Launching an online market system consisting of currency transactions

The Deputy Director of the Export Department of the Central Bank considered the control of queues in front of exchange offices to be another measure of the Central Bank to manage the foreign exchange market and said: First, due to convenience, the online market system consisting of currency transactions was formed so that people could easily receive their turn and go to the exchange offices at a specified time. do

He clarified: Also, the supply of foreign currency in 40 branches of the banking network is one of the other actions of the Central Bank to manage the foreign exchange market, and in the near future, foreign currency deposits will also be finalized.

Gathering queues to buy dollars

The Fars reporter’s field investigations of the exchange offices in Maidan and Ferdowsi Street indicate that with the measures taken by the Central Bank as well as tax warnings and subsidies to the general public to reduce the activity of currency brokers, queues of people have formed in front of the exchange offices since the beginning of the week. , has decreased a lot.

The interesting point is that today even the behind-the-scenes traders do not take the risk of buying quota dollars, and this has caused us to see a decrease in the value of the dollar in the market.

At the time of writing this report, the agreed dollar is being traded at the price of 33,850, and the unofficial dollar is being offered at the price of 34,900 tomans by dealers.

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