The Iranian economy continues to bleed. A significant decline in the currency and a sharp drop in the stock market

The Iranian economy continues to bleed. A significant decline in the currency and a sharp drop in the stock market
The Iranian economy continues to bleed. A significant decline in the currency and a sharp drop in the stock market
-

The Iranian economy continued to bleed at various levels, as the stock market recorded its worst results due to the government’s economic policies, while the US dollar continued its rise against the Iranian currency, reaching a price of 44,000 tomans despite the pressures of the Central Bank of Iran and the new government measures.

The Iranian “Tijarat News” website announced the continued decline in the stock market due to the government’s economic policies.

“Tijarat News” added that the overall index of the stock market fell on the last working day of the week, by more than 2%, and finally settled at 1,911,000 points.

The site wrote that many experts believe that the reason for this decline in the index is the government’s pricing of the dollar.

The Central Bank of Iran has implemented its new policies with regard to hard currency since Tuesday, January 24. After the price of the dollar rose to 45,000 tomans, the Central Bank stopped selling the dollar at the specified price, 6 months after the start of selling the dollar to citizens in this way.

-

At the same time, the Fars news agency announced that the central bank had delegated a central role to the banking office of the National Bank of Iran in implementing its new policies to control the hard currency market.

--

Under this decision, all exporters who import must pay part of the value of their exports and sell their currency to the National Bank Stock Exchange to fulfill their foreign exchange obligations. For its part, the National Bank exchange office displays, daily, its hard currency resources, in an auction, so that other exchange offices can buy it.

Government officials in Iran, as in the past, believe that the reason for the dollar’s high price is due to “raising malicious rumors” and “enemies’ actions.” They said that the real price of the dollar ranges between 28,500 to 30,000 tomans.

And the first vice president of Iran, Muhammad Mukhber, had said earlier: “People organize their lives and their needs on the price of the dollar at 45,000 tomans, and the reason is that they do not trust our promises about meeting their needs at a price of 28 thousand tomans to the dollar.”

The new round of the dollar’s price hike began after the European Parliament’s decision to declare the Iranian Revolutionary Guard a terrorist organization, and last Sunday the price of the dollar reached more than 45,000 tomans.

-

--

NEXT Days before Blinken’s visit.. Beijing calls for “common ground” with Washington