InternationalInternational Economics

Unsafe channel Dollar price / Heavy risk of losing traders assets

According to the economic correspondent of Fars News Agency, the price of the unofficial dollar, which was in the channel of 26 thousand Tomans in 1400, has entered the channel of 31 thousand Tomans in recent days, this rate increase has occurred while in recent months the fundamental variables affecting The exchange rate has not changed significantly on both the supply and demand sides of the currency.

Stability in these variables can be found in the flow of foreign exchange in the remittance market (Nima system) as well as the supply of cash market currency in the organized foreign exchange market and sales in the 25 service headings provided by the Central Bank.

The last example of increasing the price of the dollar without changing the basic variables of the country’s economy and entering the channel of 31 thousand Tomans and then a significant decrease due to lack of support by factors affecting supply and demand occurred on December 15, 1400. The chart below shows a sudden increase and decrease to 25 thousand Tomans in the same year.

It is noteworthy that in 1401, the components of the foreign exchange supply side in the country have also improved and the resources of the central bank to manage the market have increased.

The growth of more than 60% in foreign exchange receipts from the sale of oil, products, condensate, gas and petrochemicals and the increase in transactions in Nima systems and the organized foreign exchange market show the adequacy of foreign exchange resources to manage the foreign exchange market.

“With the full coverage we do in these markets, there will definitely be calm in the market; “Of course, the central bank is using the capacity of existing laws, and special powers will soon be added to the central bank, and it can greatly help balance the market.”

Together with the statements of the Governor of the Central Bank regarding the special powers of the bank in managing the market and the status of foreign exchange supply by traders and exporters in the remittance market and the sale of foreign exchange by exchange offices in specific headings, it can be said that the dollar enters the channel of 31,000 Tomans without support. An economy caused by the central bank’s limited foreign exchange resources will lead to a re-collapse. Field studies of the foreign exchange market show that major market traders avoid buying and selling at these prices, and people who do not have sufficient control over market conditions make purchases in these price channels.

Given the current state of the country’s foreign exchange market, the limited range of exchange rate fluctuations in recent months, as well as the lack of fundamental change in fundamental macroeconomic variables, traders in the informal market face a very high risk of losing their assets;

According to Fars, a study of the non-toxic market environment shows that after the promulgation and implementation of the law amending the Anti-Trafficking in Goods and Foreign Exchange Law a few months ago, intermediaries and former traders were more cautious in conducting foreign exchange transactions and fears of asset freezing. Until the transactions of these people are reduced and as a result, the rates announced by people in the non-toxic market are false because there is no trading at these rates.

End of message /

Suggest this for the front page

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button