Professional market operators are not willing to buy currency and are selling
In an interview with Iran Economist reporter, “Masoud Tavakoli” explained about the situation of the foreign exchange market: Yesterday, the dollar rate fluctuated in the open market in the channel of 36 thousand tomans, and in the agreed market, this figure was traded between 34 and 34 thousand and 500 tomans. The agreement market is a banking market between money changers and it affects the free market, and money changers, as the main players of the currency market, use this amount as the basis of the transaction to conduct transactions with each other, but this amount is not considered for selling dollars to ordinary people.
Referring to the formation of queues to buy foreign currency at an agreed rate in front of the exchanges, the spokesperson of the organized currency market said: These queues have created a psychological burden that the demand is high and people must buy dollars at any price. The reason for the long queues was that people usually don’t know about different exchange offices in the city, so a few exchange offices are more well-known in a location in Tehran, and people visit these exchange offices a lot, and the long queues give rise to the suspicion that there is an influx to buy dollars. There is currency in the market.
Tavakli said: Setting up a system for buying and selling foreign currency online and informing people about buying from this system and spreading it among market participants will make all authorized exchanges enter into transactions and this distribution of demand among exchanges will reduce the psychological burden and queues. it destroys.
He emphasized: People’s lack of information about the capacity of various exchanges to supply agreed currency causes crowding in some exchanges, and the online notification and distribution system reduces the psychological burden.
The spokesman of the foreign exchange market clarified: The assumption that the demand in the foreign exchange market has increased and the currency is low is not true, and the situation is normal, and such news imposes a psychological burden on the society.
Regarding the lack of awareness of some people about the state of the foreign exchange market and investing in this market in the current conditions, he said: The point that people should pay attention to is that money changers who have many years of experience are not willing to buy dollars at the rates that exist in the open market. They sell their dollars with a big difference.
Tavakli stated: A significant part of currency sellers in the agreed market are exchanges, which means that the transaction between exchanges is done at low rates, and exchanges are willing to sell their dollars at prices less than two to three thousand tomans lower than the open market and have a desire to buy dollars. They don’t have high rates.
He stated: A professional market operator does not only buy at high rates, but is also a seller, so how do people buy dollars at a high price in the informal market?
The spokesman of the foreign exchange market said about the activity of selling foreign currency in the online system: This system started its operation yesterday, but because there was a lot of traffic and there was an unrealistic demand in the market, the system was disrupted, but now this disruption has been resolved.