News ID: 275826
Published: 0623 GMT October 21, 2020

Speaker: Iranian Parliament makes new economic decisions

Speaker: Iranian Parliament makes new economic decisions
mehrnews.com

The Iranian Parliament speaker announced that the body has made new decisions about the swap of goods, supplying foreign currency resources as well as improving imports and export procedures.

"In this closed session on Wednesday, attended by Minister of Industry, Mine and Trade Alireza Razm Hosseini, economic topics, including the ministry’s priorities, setting the goods' prices, supplying and distributing goods, as well as issues pertaining to [domestic] steel companies were discussed," Mohammad Baqer Qalibaf said, Mehr News Agency reported.

"Some new decisions about the swap of goods, export and import processes and supplying foreign currency resources were made during the session," he added.

He expressed hope that these decisions will have the necessary impacts on stabilizing the domestic stock market and reducing the forex rates against that of the rial.

After a long period of rising, the foreign currency rates and gold price in the Iranian market declined on Tuesday, following renewed intervention by the Central Bank of Iran (CBI).

Earlier, the CBI said it was pumping $50 million in the chaotic domestic forex market every day to curb prices. The CBI has reportedly injected $385 million in the regulated forex market in the past five days.

As the domestic gold market is heavily influenced by the forex rates against that of the rial, the precious metal also experienced a steep decline on Tuesday.

 

 

   
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Resource: mehrnews.com
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