Yahya Ale-Eshaq: Iran Must not be Dependant on Rial Dollar Exchange Rate

Yahya Ale-Eshaq

Currently Iran is experiencing hard moments in its history of Rial Dollar exchange rate. Iranian Rial has hit its lowest rate against U.S. Dollar and this is mainly because of the Western sanctions on Iran over its disputed nuclear program. United States and Israel accuse Iran of developing atomic weapon while Iran refuses the claims.

“If we neglect the economic instability and the exchange rate at the time, our economy will receive notable damages in future. Actually Iran should not be dependent on Dollar.” warned Yahya Al- e Eshaq, Head of Tehran’s Chamber of Commerce, Industries and Mines.

“We are facing with difficulties and challenges in the way of exporting goods from Iran to other countries during the recent 18 years but the current situations are very critical and we should be aware of that. Many opportunities come to action when Rial Dollar exchange rate goes high but we observe threats against private sector and government in aspect of exporting.” Yahya Al- e Eshaq added. Iranian government decided to increase the tax of exporters since their income has been doubled or tripled.

At the current time, the Rial traded at 35,000 against the Dollar on Iran’ free market while the official Rial Dollar exchange rate is set on 28,500 by Iranian government.

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