Removal of sanctions to depreciate currency radically

Young journalists club

News ID: 2278
Iran » Iran
Publish Date: 15:49 - 30 September 2013
Font Size
Print Send to firend
Save

Removal of sanctions to depreciate currency radically

Tehran, YJC. Lawmaker has said that if sanctions are removed, the dollar and other currencies will drop in value compared to the Iranian Rial.

Qolamreza Mesbahi Moqaddam, Chairman of the Planning, Budget, and Audit Committee of the Majlis, in response to the President of the Central Bank whose statements caused the dollar to grow in price last week said "I did not expect Seif to talk about whether currency has reached the lowest or highest level. Principally, the President of the Central Bank must give interviews once or twice a year as much as giving a report.”

He further pointed out that as the President of the Central Bank, Seif influences the market through what he says, adding "I would like to ask the President of the Central Bank to act as the presidents of central banks everywhere in the world do.”

"If in the not so far future sanctions are lessened or removed and we find access to the currencies kept so far, something else is sure to happen and the currency value will not be as today, because the excess supply of currency will drop prices.”

The president of the Central Bank had recently said that the current 30,000 Rials is the lowest possible price and that it will not be reached below.

The statement has caused some tumult in Iran’s currency market so far.
Tags
mesbahi ، moqaddam ، seif ، dollar ، price ، currency ، market
Your Comment