The foreign interchange market soon went in a frenzy, with the rial losing its price against the America $ on a every day basis. The Gov had to intervene to bring back stability with fixing USD averages & transferring bureaux de change's activities to banks, however the implications were far-reaching for businesses working with USD. Let's consider the steel industry, as 1 of the few non-oil industries prospering on the Export front. Exporters & even native traders tell they have put All thing on hold for now, until the dust settles on the fresh normal. "Exports are in lockdown," told Khouzestan Steel Company's discounds & marketing manager, Bahman Tajalizadeh.
Iran's Appliances & cars Market chock with Forex Crisis, Blackouts on the Way
Ehteshamzadeh told the Gov hasn't issued any directive to the banks about selling difficult currency to importers. This, he said, has led to an unprecedented request for foreign currency. Economists believe the height in the prise of difficult currency Information Systems the major reason for the down in imports. Iranian officials have blamed other countries for the height in the value of foreign currencies & devaluation of Iran's rial. The Rouhani Organization imposed a fresh average of interchange 18,000 less than the market value of 60,000 rials against 1 America $ in early April.
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