‘The Government’s New Foreign Exchange Center Lead to Price Decreases in Free Market’

Iran's Minister of Industry, Mines and Trade Mehdi Ghazanfari

Recently the currency prices in Iran’s free market have been increased drastically and government was unable to control the prices. According to the new proposal by Central Bank of Iran, government decided to open a new foreign exchange center. Some analysts believe this new solution will fail in tuning prices in free market but some people say this center will balance the market. Iran’s Minister of Industry, Mines and Trade Mehdi Ghazanfari is one of those analysts. He believes the new exchange center will take the leadership in free market in soon future.

“Base on the agreements with CBI and customers, the currency prices in this center will be set at 2% less than prices in free market. By implementing this new idea the price of foreign currencies will be diminished in free market and because of this deduction, the exchange rates will be decreased in the Forex center too. If we continue the operations of this institute the total price of foreign currencies will be decreased in all the markets including free or governmental ones.” said Mehdi Ghazanfari during a joint meeting with the private sector organized in the central building of the Ministry of Industry, Trade and Mines.

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