USD/IRR; finally unified?!
– In a bold and rather sudden announcement, Eshaq Jahangiri, the vice president of Rouhani administration, spoke of a unified USD/IRR rate of 42,000 from today on for all economy participants. Following a late night meeting, it seems that the Iranian government finally unified the FX and are to consider trades with other rates as illegal (smuggling). Eying the nation’s currency reserve, the vice president insured people that there shall be no difficulties in meeting the FX needs of society. In addition, today, the chair of CBI explained on a parliament session that the decided USD/IRR rate is not fixed and can be altered in reaction to the market supply-demand trends.