10 May 2023 - 14:34
Governor of Central Bank stated;

Selling currency for producers in smuggling market has no economic logic

Governor of Central Bank answered the questions of people's representatives in Iranian Parliament this morning
News ID : 140061

IBENA- In morning session of the parliament, Mohammad Reza Farzin; Governor of central bank said that the exporters who do not return currency-income from their exports to the country; considered them violation and said: We have formed a committee in central bank that will deal with all these violations so that exported currencies return to the country. Of course, many exporters return the currency because last year 65 billion dollars of foreign currency was provided, which shows the return and it mainly belonged to petrochemicals and steel companies; Other industries also performed well, but we will also deal with violations.

We set up center of Iranian currency and gold so that the exchange rate can be formed and the foreign exchange needs of the country can be met with the same exchange rate. Our problem is that signals given to the market are from exchange rate of smuggling/ free market, which we goanna minimize, Farzin clarified.

In order to shrink the smuggling market, we have information and we have entered all these markets; Therefore, we are trying to reduce this rate because the exchange rate of smuggling market is not acceptable and we believe it should be reduced, According to Governor of Central Bank.

Asian Clearing Union meeting will be held in second half of May

3 data-x-items of Main topic in this summit (ACU) is including clearing, bilateral monetary agreement and multilateral monetary agreement. We have negotiated a monetary agreement with several countries, which is going to finalization.

According to him; If we want to remove dollar from economy and transactions, must use these 3 tools, and Insha’Allah, in the meeting that will be held soon, with agreements and negotiations we have had with Governors of central banks of some countries; We will start this work operationally in the country.

Reducing inflation rate for producer

Farzin, pointing out that we have a good situation both in terms of foreign exchange resources and control of liquidity; inflation rate for producer has decreased to 1.9 percent in April 1402, which has decreased compared to the same period last year and previous month. We hope that with the decrease in this index, we will see a decrease in inflation rate of this year, for which we have plans and we will use monetary, financial and currency policies in this direction, He added.

We have designed two inflation packages, including package of "control of Inflation and Realization of Growth Rate" and package of " Management of Exchange Rate" in Central Bank, and our effort is to curb inflation in both packages this year that economic growth is not decreased, in the end, Farzin stated.


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