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U.S. dollar fall against Iranian rial would be harmful: Central Bank Chief

Source: Tehran Times

The U.S. dollar exchange rate in Iran is reasonable and any further fall of the rate will be harmful to the Iranian economy, the Iranian central bank governor said on Tuesday. The current [free market] exchange rate is reasonable. It is the bottom rate and it will hardly fall further, Valiollah Seif added.

Central Bank Of Iran chief, Valiollah Seif

An optimist point of view in the society has led to a decline in the exchange rate. Any further decline will have negative consequences, he said.

The U.S. dollar free market rate hit 29,500 rials in Iran on Tuesday.

Iran's exports will decline if the U.S. dollar exchange rate falls below 32,000 rials, a member of Iran's chamber of commerce, industry, and mine has said.

Avaz Mohammad-Parsa told ISNA that the dollar exchange rate should be between 32,000-33,000 rials, otherwise exporters will suffer losses.

The U.S. dollar free market exchange rate hit 30,900 rials on Thursday.

The recent visit of President Hassan Rohani to New York has created a positive psychological atmosphere in the market. So, foreign currency exchange rates have declined, he explained.

On July 9, Iran's central bank posted an official exchange rate of 24,777 rials a dollar on its website, replacing the fixed rate of 12,260 rials, officially adopting a single rate.

... Payvand News - 09/25/13 ... --

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