The new currency decision of the Central Bank will eliminate rent and economic growth
“Mohammed Lahoti” today (Thursday) in an interview with Iran is an economistintroduced the existence of the exchange rate as a challenging issue in the country and stated: This rate was used in the pricing of petrochemical feed and other goods such as steel and some minerals from 2017 onwards.
He stated: The significant issue is that the movement towards currency unification will help to clarify and eliminate existing rents, which will provide the basis for the realization of the desired achievements of the government in addition to creating a healthy competition.
The head of the Iran Export Confederation emphasized that the issue of multi-rate currency in the country will be the cause of increasing problems, and said: the existence of a significant gap between the exchange rate of Nimai and the exchange rate in the free market has led to the existence of many of these problems in the country.
Lahoti continued: It should be noted that the currency that is received from the exporter and given to the importer can be monitored and checked by what mechanism, so that the imported materials with a cheaper currency compared to the free market, which has a 20% difference, reach the end consumer and are placed on the table. people come
He attributed the existence of these problems to the creation of several different rates for the currency and said: If the Central Bank accepts that the nominal exchange rate and the free exchange rate should be close to each other and their distance should not be such that it creates rent, then it will be possible to The subjects in the predictions were optimistic.
A policy in favor of the importer
The head of the Iran Export Confederation emphasized that cheap currency is bought from the exporter and given to the importer, and the importer imports the goods without any supervision and delivers them to the consumer at a higher price. In the end, this may not bring any benefit to the end consumer.
Lahoti believes that this issue is in conflict with the macro policies of the country and that export support and import management should be on the agenda.
He stated: Determining an unrealistic, mandated rate of export exchange rate and creating a significant gap between the rate of this currency and the free exchange market, regardless of whether these currencies are available to importers, will create a false demand for imports due to the cheapness of the imported exchange rate. .
The head of the Iran Export Confederation continued: In recent years, we have witnessed the fact that with the creation of a price gap between the Nima exchange rate and the free currency, about 40 to 50 billion dollars of goods orders were placed in the import queue.
Lahoti stated: Although these numbers may not be realized, the existence of these numbers indicates the increase in the attractiveness of imports over exports and in return for paying subsidies to imports.
He pointed out: With the closing of the gap between Azad and Nima exchange rates through the policies of the Central Bank and also by solving the problems of foreign exchange obligations, while solving the problems of exporters, the country’s economy will be increased.
According to Iran EconomistAccording to the provisions of the Central Bank Governor’s letter, the remittance selling rate of Iran’s currency and gold exchange center was used as the basis for the feed price exchange rate and the base price of products of refining and petrochemical companies in commodity exchanges.
Mohammad Reza Farzin, the Governor General of the Central Bank, on Tuesday of this week, in a correspondence with the Minister of Oil regarding the currency exchange rate for calculating the price of feed and products of oil refining and petrochemical companies, announced that an arrangement should be made so that the remittance selling price of the Iran Gold and Currency Exchange Center is based on the exchange rate. The price of feed and the base price of the commodity exchange should be set.