Shortening the time of foreign currency supply for importers with the implementation of the new foreign exchange policy

According to Iran Economist From the Central Bank, Mohammad Reza Farzin, in a direct meeting with a group of exporters, importers and producers, which was held in order to investigate the problems of the country’s foreign trade, added: the currency issue is one of the basic issues of the country’s economy, and a major part of our efforts in The central bank and the government are focused on creating peace in this market so that we can create stability in the country’s economy.

Stating that predicting the future of the economy and the market for economic activists is one of the main priorities of the Central Bank, the Governor General of the Central Bank emphasized: According to the slogan of the year, we will definitely adopt policies to eliminate fewer problems and obstacles.

Farzin went on to explain the recent actions of the Central Bank in the foreign exchange market and said: the implementation of the currency policy of basic goods and medicine instead of government currencies, which has been implemented so far, was one of the first actions of the Central Bank in the new era, which returned stability to the market and It prevented the emotional increase of the rate.

He added: Also, for the supply and supply of foreign currency needed by exporters and importers, a currency and gold exchange center was established, which is considered the center of the country’s foreign exchange policies, and for the expansion of this center, various programs such as setting up foreign currency advances, currency swaps and using We are considering other common tools in the world that will be implemented in the future.

The Governor General of the Central Bank stated that the currency and gold exchange center is considered a budding sapling in the country’s economy, which will gradually develop, and noted that since the establishment of this center, good measures have been taken and the currency exchange rate in this center has increased since The launch so far has been between 36 and 39 thousand tomans.

He continued: With the prepared mechanism and the cooperation of the relevant institutions, the service currencies needed by the people have been provided in this center and all our efforts are to provide all the currencies needed by the people and economic activists in this center.

Farzin continued: Regarding currency notes, this task was assigned to the banking network, and people can meet their needs by creating a currency account, and so far, people who have requested currency through this route have been able to get the currency they need without any problems. and the hands of dealers and speculators have been shortened from this route and we no longer see the formation of long queues to receive foreign currency from exchanges.

The Governor General of the Central Bank emphasized: Of course, we should note that our national currency is the Rial, and the strengthening of the Rial should be the policymaker’s priority so that people do not worry about the value of their currency.

Stating that the intensification of sanctions has made it difficult to transfer currency, he said: the volume of our foreign exchange transactions is not small and the amount of foreign exchange transactions of the country was over 180 billion dollars last year, so the world cannot easily ignore us and the path The growth of the country will not be limited despite all the obstacles.

Farzin added: Last year, until May 20, 13 billion 350 million dollars were allocated and 5 billion 944 million dollars were provided, while this year in the same period, 13 billion 864 million dollars were allocated and 7 billion 281 million dollars. Currency has been provided; Therefore, our currency supply this year has increased by one billion and 300 million dollars compared to the same period last year.

Emphasizing that a major part of the supply is provided through exporters, such as petrochemicals, steels, etc., the Governor General of the Central Bank pointed out some problems that lead to the lengthening of the supply of foreign currency and said: in order to shorten the supply of foreign currency from After this, the central bank will buy the currency directly from the exporters and sell it to the importers at a certain rate by eliminating the middlemen, so that both the costs will be lower and the time to supply the currency will be shorter.
The head of the Money and Credit Council, referring to some violations in the currency market, which causes instability and imbalance in the market, requested the business activists to report any violations and corruption to the Central Bank and emphasized: We are serious in dealing with corruption. And we deal with any violation and corruption by foreign exchange market actors, including banking and non-banking exchanges, importers and exporters, and in this context, a special committee has been established in the Central Bank, which investigates and follows up on violations. to give

Emphasizing the need to comply with the rules related to currency transfer fees, the Governor General of the Central Bank said: Currently, banking and non-banking exchanges receive currency quotas, and no restrictions have been established for non-banking exchanges regarding currency transfers.

Farzin emphasized: In the framework of national interests, producers and exporters who produce and export with the approved currency and cover their costs with the approved official rate should not sell their currency at a free rate and smuggling.

The Governor General of the Central Bank also said regarding the requests made by the manufacturers regarding the review of the need to block the Riyal for registration of import orders: Our goal in this matter is to reduce the registration of fake orders and shorten the queue to receive foreign exchange for real manufacturers and importers. but there is a possibility of revising this regulation and we are trying to provide the necessary solution for this issue so as not to create a restriction in this regard for the real producer and importer; Therefore, we will welcome any suggestions and solutions in this field, and in this field, we do not differentiate between the government and non-government sectors, and if we find a suitable solution, we will not discriminate in this regard.

In the end, the Governor General of the Central Bank expressed his hope that stability and peace will return to the currency market with the set of measures adopted, and the concern about the currency market will decrease.

Also, at the beginning of this meeting, the economic activists present in this meeting expressed their problems and suggestions in the field of commercial exchanges, and by the order of the head of the central bank, it was decided that the foreign exchange deputy of this bank, while carefully examining the issues raised, will remove the existing obstacles and facilitate the path. The country’s foreign trade should take action.