The transaction rate of the exchange center will be the free currency price
According to Iran Economist, the Central Bank has used Russia’s experience in restoring the value of the ruble in the new currency package that will be implemented from tomorrow.
According to this model, all foreign exchange resources resulting from exports are under the control of the central bank.
This model, which was successfully implemented by the Russian government, caused the ruble to recover its value within a month after the initial fall in the case of the Ukraine war, and even higher than the previous value, 100 percent of export currencies are contracted.
In this model, the currencies obtained from exports, especially in industries and mines that produce their products through cheap energy sources and sell them in global markets, are under the control of the central bank, and these major exporters (petrochemical, steel, copper, etc.) ) must offer their currency in the currency and gold exchange market.
If this model is successfully implemented, there will be a possibility of heavy losses in the currency market and recovery of the value of the national currency similar to what happened in Russia.
The price of currency in this market is determined based on sources and expenses and macroeconomic variables. In this market, the central bank is not just an observer but actively intervenes.
The focal point of the currency package is to oblige exporters to return all exported currencies. With the implementation of this plan, the currency of major exporters will be under the control of the central bank.
At the current stage, the central bank has complete control over export currencies and is aware of the amount of currency of each of the major exporters in the coverage networks in detail.
One of the benefits of implementing this package is to incentivize large exporters by entering their currency into trading in the exchange center (not just Nima).
The currency of the exporters comes to the exchange center and they can officially supply the currency within the price range that is determined and is higher than the Nima rate but lower than the false and smuggling rates.
The gold and currency exchange center is another market that responds to any other official demand (68 service requirements have been counted).
The free market rate is the rate based on which transactions will be conducted in the exchange center from tomorrow. This market works with both money orders and bank notes.
Any other rate and market other than the rate of the Nima system and the rate of the exchange center will officially be the rate and market of smuggling from tomorrow.
According to this package, while managing transactions, the central bank is obliged to carry out infrastructural affairs in the field of currency; Including matching the business map with the currency map.
The details of the currency package will be announced to the public in a transparent manner as each department progresses, so that each person or group can clearly understand their duties. Of course, the main emphasis is on the management of export currencies and at the same time the correct and real allocation.
Therefore, the report of the situation in terms of foreign exchange resources, especially the income from the sale of oil and condensate, has nothing in common with the years 1998 and 1999 and the shortages of foreign exchange at those times. In the first 11 months of this year, 80 billion dollars have been allocated for foreign exchange expenses, which is 30% more than last year.
end of message/