Iran (IMNA) - Ali Bahadori-Jahromi hailed the Raeisi administration's effort in stabilizing the currency market, but added that the exchange rate began to jump due to the enemy's machinations.
"For approximately a year and three months, this administration created relative calm in the currency market. Nonetheless, the foreign currency exchange rate has risen since November, co-occurring with the enemy's unhappiness with the street riots," he stated.
Currency swings, according to Bahadori-Jahromi, are intended to bring about economic instability, discourage investment, and prevent economic growth.
Iran's oil sales and exports have increased in recent months, he continued, with the non-oil trade balance turning positive.
"But, even if we do not export oil, the country's foreign exchange needs will be covered," he stated.
"Nearly always, the supply of [foreign] currency has been greater than its demand. Under these conditions, the price should naturally fall, but in the free market, it is rising due to the formation of expectations, as well as media and psychological hype," he noted.
Foreign exchange challenges caused by enemies' conspiracies: Minister
On Monday, Iranian Interior Minister Ahmad Vahidi remarked that some of the fluctuations in the foreign exchange rate are the result of adversaries' schemes.
He also stated that the intelligence and security agencies' roles will be modified to let them taking action in this relation.
"After the riots, the enemy openly declared that it will attack the country's economy, which was already on their agenda," Vahidi added, noting current sanctions and currency troubles as evidence of the enemy's meddling in Iran's economic condition.
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