Iran plans to introduce a single exchange rate for the national currency

Almaty. February 26. Silkroadnews - Iranian authorities intend to introduce a single exchange rate of the national currency in order to consolidate the futher progress made by the government in recent months due to implementation of a package of anti-inflation measures, the Iranian News Agency (IrTAG).
As stated by the Minister of Economy of Iran Ali Tayebni, a new system of calculating on the basis of single-rate is planned to be introduced in the country since the beginning of the new fiscal year on the Iranian calendar (from March 21, 2015).
"We must ensure the conditions for the unification of the exchange rate, so that we were able to achieve the projected rate of growth in the national economy", - said the minister.
However, he stressed that the transition to a "single rate" for the Iranian rial "will be possible only after the situation in the financial markets becomes stable".
The head of the Central Bank of Iran Waliullah Safe, recently said that Iran first must ensure the stability of the national economy and address the underlying factors that lead to volatility in financial markets, before embarking on the practical implementation of plans to introduce a single currency exchange rates.
It is known that in Iran there are two different exchange rate rial: the first set by the Central Bank, and the second - set in the course of free currency trading among financial market participants. Moreover, in recent years, the difference between the two rates remained fairly substantial. So, on Tuesday the official rate set by the financial regulator of the country amounted to 27,700 rials per one US dollar, while the "outside" it was trading at 34,000/$1.