The Current Dollar Rate in Iran is not “Real”

The Current Dollar Rate in Iran is not Real

Nosrat Ezzati, the spokesman of Association for Exchanges of Iran, stated that the current rate of Dollar in Iran’s free market against the local currency is not real and it will be reduced in the coming days.

Ezzati believes the new exchange trading center can remedy the current crisis in the market. He also offered the support from Association for Exchanges of Iran. “The Association is ready to make the plan success and we are ready to cooperate with Central Bank of Iran in this field.”

“We are confident about the success of this project if it continues. During the recent days the actual rate of Dollar has been reduced in Tehran but those people and exchangers who bought Dollar for high rates, don’t want to accept the new price. This has made some troubles in market.” Nosrat Ezzati said.

“The total volume of traded Dollar in Tehran’s free market¬†including buying and selling is not that much and we believe the current rate is not the real one. Again we are sure the rate will be slashed in the coming days if CBI continues its new project.” Ezzati concluded.

The rate of Dollar is the new crisis of Iran’s economy. Experts and analysts believe this huge increase is because of the United States sanctions over Iran’s nuclear program. The exchange rate of Dollar against Iran’s Rial was about 35,000 today.

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