• Tue / 23 June 2020 / 14:07
  • Category: Politics
  • News Code: 99040302485
  • Journalist : 71477

Shock in foreign exchange market temporary: President Rouhani

Shock in foreign exchange market temporary: President Rouhani

Tehran (ISNA) – Iran’s president stressed, "What the government is looking for today is to direct liquidity based on sustainable policies towards strengthening production and the foundations of a productive economy”.

Speaking on Tuesday at the 46th session of the government's economic coordination board, President Hassan Rouhani added, "The executive program of this policy has started in a coherent manner and issues such as activating the stock exchange to rationally supply stocks or activating mines owned by some people without any economic activity for the past years are being pursued”.

He said, "Selling bonds in a completely economical way to the people and more importantly selling government property and lands to build housing is another important step of the government to sustainably and fundamentally transform the economy so that it can direct the country's liquidity towards a productive economy”.

Dr. Rouhani also mentioned the establishment of a real estate exchange as one of the measures that will encourage and support investment and housing production on a large scale through the provision of land and the necessary financial facilities.

"The government is seriously pursuing its monetary policy, including controlling liquidity and inflation, as well as managing financial markets, especially currency prices," he said.

Dr. Rouhani said that the honorable people of Iran understand the conditions of the country and the problems that have inadvertently hindered the progress of the country's economic programs, adding, "I am confident that together we will overcome these difficult and unintended conditions".

Dr. Rouhani emphasized that the recent fluctuations in the foreign exchange market and the shock created have no fundamental economic root cause, adding, "Some movements and psychological operations in the international stage against Iran and also creating an unrealistic concern among the people are the main causes of the recent turmoil and fluctuations in the foreign exchange market”.

"Economic officials, especially those involved in the financial markets, must work hard to implement the policies and programs approved to control and manage this market," he said, adding, "We must all work to prevent this psychological burden of the increasing exchange rates on the prices of other items and goods and taking care to control short-term and transient currency fluctuations”.

Dr. Rouhani stated that all regulatory and disciplinary bodies, along with the central bank and with their effective cooperation, should prevent some profiteering activities, saying, "The central bank’s management in a calm and stable market environment and exporters’ living up to their commitments to return the foreign currency to the economy are the most secure way for returning calmness to the market”.

Emphasizing the importance of the role of the media in creating a calm atmosphere in the economy and reducing people's worries and the psychological burden of short-term and transient currency fluctuations, the President said that the assistance of the media along with the help of regulatory bodies and ongoing measures of the central bank control unrealistic emotions”.

Dr. Rouhani also described the reports on the opening of borders and the return of the export and import situation to pre-coronavirus conditions effective in calming the financial and foreign exchange market, adding, "The increase in exports and successful efforts to return foreign exchange revenues to the country and the supply of foreign exchange from exports by exporters will create a calmer situation in the foreign exchange market”.

In another part of the government's economic coordination meeting, the issue of regulating the housing market, especially the rental market, was discussed, and the President said, "Government’s policy is to help and support the low-income and those affected by the current economic conditions”.

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