Increasing supply over demand for currency in the Nima system
According to Iran Economist’s report from Central Bank, “Ali Saleh Abadi” said in the fifth meeting with economists focusing on “optimal foreign exchange policy and the relationship between monetary and foreign exchange variables” that was held at Central Bank: “The management of the foreign exchange market must always be done with seriousness and We have put different mechanisms on the agenda.
He emphasized: I agree with the opinions of the economists present in the meeting that the central bank should have an effective presence in the currency market and this bank can create balance and stability in the market with different methods, which has already been achieved.
The Governor General of the Central Bank pointed out that there are several measures on the agenda and plans are currently underway to manage the foreign exchange market and added: In the management of the foreign exchange market, there is a part in the coordination of the Central Bank with the Ministry of Industry, Mines and Trade regarding the registration of orders in It is being done and in the other part, the issue of currency supply management has been emphasized so that the exporters can return the currency from their exports to the country and enter it into the business cycle. In this context, the Foreign Exchange Action Committee makes decisions based on the circumstances. The result of these decisions ends up in balancing supply and demand in the market.
The head of the Money and Credit Council further stated: In the field of currency remittance, which is in charge of the Nima system, we currently have a relatively good balance in terms of supply and demand.
He added: “Some days we see that there is enough currency, but there is no buyer or demand for it, and in fact, it can be said that there is an excess of currency supply over demand on many days.”
The Governor General of the Central Bank continued to emphasize: There is no particular problem in the field of remittances and banknotes, while it should be emphasized that the condition of the Central Bank’s currency notes is very good, as I have already announced, and fortunately, the exporters, especially the non-oil sector, have agreed on the sale price. They have taken effective steps.
In another part of his speech, he addressed the issue of managing inflationary expectations and said: The Central Bank is seriously pursuing the issue of managing inflationary expectations, and this issue is also on the government’s agenda.
Regarding the central bank’s firm dealings with foreign currency speculators and speculators in the market, Salehabadi said: “In the recent period, with the efforts and round-the-clock cooperation with the relevant regulatory and law enforcement agencies and organizations, with some cyberspace channels that surf some news and expectations. Inflation fakers were dealing with fake pricing and betting on currency prices.
The Governor General of the Central Bank emphasized that the serious fight against the smuggling of goods and currency is being pursued seriously in the 13th government, and said: The supply of unofficial currency, which is considered a form of smuggling, caused false pricing in the market, and this case has also been dealt with. .