Intensifying the outflow of the country’s capital through Ramzarz

Kamran Soltanizadeh on the reaction of the foreign exchange market to the news release by the CEO of IRNA News Agency on the news of the release of blocked resources said: “In any case, it takes time for these resources to be available to the economy This will only be stronger when announced by the authorities, in which case it could have an exponential effect.

He continued: “On the other hand, people are less waiting for the news and decide on their investments based on their experiences, and if they feel there will be a possibility of price increases, they will implement their decision and implement it quickly. These decisions and analyzes are usually based on Analyzes are related to the amount of liquidity, inflation rate and economic realities of the country.

Referring to the impact of inflation in the foreign exchange market, Soltanizadeh said: “According to rumors in the country, the inflation rate is about 40%, that is, if last year the average dollar rate was between 25 and 27 thousand tomans, this year the inflation rate should increase in proportion to inflation.” Have.

Referring to the people’s expectations from the foreign exchange market in the past few months, the member of the Supreme Council of the Money Changers Association continued: “People have been waiting for the exchange rate to decrease in the past few months, but when the exchange rate did not decrease, it was fixed at 27,000 Tomans. They recognized the floor price of the dollar, so in this situation, people will buy dollars again. In the market of cars, real estate and other goods, we have witnessed the same process and process, and this beginning and exit of cautious patience for buying can be the beginning and increase of purchase volume, which will be a good time for the market maker to enter to manage the market.

He stressed: .The important point is that parallel markets have a negative effect on each other and certainly the high cost of cars, property, goods and service rates affect the foreign exchange market or vice versa.

Referring to the current situation in the foreign exchange market, Soltanizadeh said: “Contrary to the expectations and intentions of the publishers of the news of the release of $ 3.5 billion of blocked Iranian currency, today people are buying dollars in the market.” Of course, we have to keep in mind that in one era the market was in the hands of the market, which means that when the markets predicted a fall in prices, they became sellers, but today it is less realized that we have to look for the causes.

He said that the market should meet all the needs of society: ‌ While it is said that the foreign exchange market should only meet the formal needs of foreign exchange, but informal needs can not be ignored, for example, many foreign exchange services in informal space and cyberspace in a non-formal way. Is allowed.

Soltanizadeh continued: “Currently, several million Iranians live outside Iran and also several hundred thousand people emigrate from Iran for work and education every year, so this issue leaves a significant amount of currency unofficially abroad.”

A member of the Supreme Council of the Money Changers Association added: “In less than two years alone, we have witnessed the purchase of about 10,000 housing units in Turkey by Iranians, with an average price of between $ 250,000 and $ 300,000, so only in this section we see How much currency has left our country and entered the Turkish real estate market in the last two years?

In response to the question of how this amount of currency is taken out of the country, Soltanizadeh said: “Part of the informal market needs are usually smuggled across the country, but all these companies that advertise for the sale of foreign property in cyberspace have informal brokers in our country. On the other hand, when they increase restrictions on formal money changers, they subconsciously and unintentionally shift the need to informal activists, who direct this demand to informal spaces with risks such as lack of oversight, money laundering, and increased exchanges between informal activists.

He stressed: “It will be very good for the exchange rate to become more realistic for exports and imports, and the rates should move towards the most realistic.”

Referring to the increase in the share of cryptocurrencies in Iranian transactions, Soltanizadeh said: “Currently, no official exchange office has the right to cryptocurrency transactions because this issue has not been legalized yet, but we are witnessing significant capital outflow through cryptocurrency transactions, which I believe could cause problems.” Become a pandemic crisis for compatriots’ platforms and e-wallets.

He continued: “While no official exchange office has the right to trade the currency code, more than 100 traders have been paid for the portal passwords, and people can trade online through these portals.” It is very important to note that the wallets of many people who trade cryptocurrencies are not secure and may lose their capital.

Soltanizadeh said: ‌ Every Iranian can easily buy whatever he wants in Turkey or other countries by charging his Ramzarz wallet, and this process of capital outflow from the country is becoming very widespread.

ILNA