The currency market is caught in decision-making fluctuations / the necessity of adopting single policies and learning from past experiences

In an interview with the economic reporter of Fars news agency, Hassan Ziyai said about the reasons for the growth of currency prices in the market: The closing of the exchange offices that happened last week is not the first time that it has happened with the decisions of the governments, but today our statesmen and the officials of the central bank must Learn from this experience.

He continued: Experience has shown that whenever the central bank restricts exchanges, the currency price fluctuates. Before this, the central bank implemented the purchase of 5000 dollars with the national code, and the exchange offices were also successful in offering this currency. But with the opening of the currency and gold exchange center, this issue was forgotten again.

This foreign exchange expert added: Currently, exchanges are allowed to buy and sell foreign currency in the form of agreed currency. With the implementation of this policy, a major part of the market’s demand was answered and the transactions of the foreign exchange market reached below 2 million dollars per day.

Ziaee clarified: It is not clear why the Foreign Exchange Monitoring Department, the Supervision Department and the managers of the foreign exchange market make such decisions that cause price growth in the foreign exchange market in the short term. Definitely, these departments should be accountable to the relevant regulatory bodies.

He clarified: When they try to ignore the role of exchanges in the currency market with threats and directives, such things happen and it is not clear which policy the decisions were made on.

This foreign exchange expert continued: In the gold and currency exchange center, no role has been seen for the exchange offices, but with the increase in the exchange rate, they have decided to give a role to the exchange offices for currency trading from today.

Ziyai added: When the ceiling is set for the price of currency and they create restrictions for exchanges, the entry of currency into the market will be limited and it will cause fluctuations.

Therefore, according to the current report, the agreed currency price on the site of Konon Sarafan is 50,692 Tomans, and in front of the exchanges, the brokers announce the dollar price around 55,000 Tomans.

The end of the message/T 1284