A free exchange rate signal was issued
The announcement of the computational exchange rate in next year's budget and the Minister of Industry's emphasis on eliminating the 4,200 currency show the government's serious determination to unify the exchange rate in figures much lower than the free exchange rate. The short time left until next year's elections has made this important decision even more sensitive.
According to the Iran International Stone Exhibition, the Minister of Industry, Mines and Trade announced yesterday that the price difference between the free currency and the government currency is corrupt and the government is ready to eliminate the 4,200 Toman currency in the current situation.
Razm Hosseini's statement is important because he has made effective and operational decisions on the issue of clearance of sediment goods, and now that the difference between the free and government exchange rates has become so great, it seems that all economic and political factors go hand in hand. To prepare the ground for a single exchange rate.
On the other hand, Mohammad Baqer Nobakht, head of the Program and Budget Organization, on the sidelines of today's cabinet meeting, told reporters about the exchange rate and oil in next year's budget: "We considered the exchange rate in next year's budget bill to be around 11,500 tomans and preliminary estimates." For oil, it is $ 40 per barrel.
It is necessary to mention that exactly one year ago, in these days, the issue of eliminating 4200 Tomans currency and increasing the calculation rate of currency in the budget became very serious, and even the final meeting of the cabinet was based on the same procedure, which was finally opposed by some It was again decided that 4200 currency will remain in this year's budget.
But now there are serious speculations about the elimination of government currency, in this regard, it should be noted that the single exchange rate should be done at the price of currency in the open market, which is not far from the target rate of the government.
According to the report, the announcement of the computational exchange rate in next year's budget and the Minister of Industry's emphasis on eliminating the 4,200 currency show the government's serious determination to make the exchange rate single at figures much lower than the free exchange rate. The short time left until next year's elections has made this important decision even more sensitive.
Determining the rate of 11500 Tomans in next year's budget, taking into account the weighted average rate for the import of basic and intermediate goods, in a way indicates that the exchange rate in the open market must also decrease significantly to single out the exchange rate at the researcher's target price. Otherwise, only the price of currency in the budget will go up, and with the increase in the price of import currency for basic goods, medicine and medical equipment, we will see a further increase in the price of these items.
More careful studies should be done in this area, because the calculated exchange rate in the budget law alone is not an effective element in pricing, but in any case, announcing this rate is an effective signal for the market.
It is worth mentioning that in previous years, the exchange rate of oil and the country's export products was exchanged for the import of basic goods and intermediates based on the weighted average value and according to the import targets for them. Now, according to the head of the Program and Budget Organization, this rate will almost double, thus creating the conditions for a single exchange rate for the free market currency and oil dollars for the import of basic goods.
* Tasnim
