Oct 3, 2018, 7:03 PM
News Code: 83053694
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Government measures push forex market to calm down

Tehran, Oct 3, IRNA -- Iranian Vice-President for Economy said the government's decisions and confidence-building measures have pushed the currency market to rest, and according to economic indicators, the downward trend should continue.

Mohammad Nahavandian said on Wednesday that economic analysts believed that the free exchange rate would not have the necessary capability as a reference rate in economic calculations so that the price on the commodity market would be determined accordingly.

He said creating unrealistic exchange rates in the foreign exchange market was 'due to an inflammation and inflationary expectations,' adding, 'Fortunately, in the public opinion, a realistic result was obtained, and as a result, the unrealistic increase rapidly became a downward path.'

Vice-President for Economy emphasized that economic indicators show that the downward trend should continue.

He said that people's concerns about maintaining their savings and the purchasing power raised issues, but people realized that if they made prudent decisions on investing, they could not afford the dealers who earn from dealing.
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