SAEDNEWS: A member of the Planning and Budget Commission said: If we look at the reality, many Iranians have put their houses up for sale and are seeking to emigrate due to the existing conditions, and this is also one of the variables that has affected the rise in the exchange rate.
According to the political service of SaedNews, Rahim Zare, in an interview with an ILNA reporter, regarding why during the twelve-day imposed war prices, especially the exchange rate, were controlled but after the ceasefire we witnessed an increase in the exchange rate, said: There are factors behind the rise in the price of the dollar; some of these factors are internal variables and some are external and beyond our will and decision-making.
This member of the Planning and Budget Commission of the Islamic Consultative Assembly, stating that in his opinion the conditions of supply and demand always determine [the market], said: During the twelve-day imposed war, the demand for foreign currency decreased because there was no travel. International flights had been canceled, and at that time the government’s supervision was good and it also injected intervention currency into the market on time. After those twelve days, in my opinion, supervision became weaker and the intervention currency that is supplied to control market fluctuations was distributed less.
He continued: On the other hand, rumors are raised that are not without impact on the rise in prices, such as another war between Iran, the U.S., and Israel, or the claim that sanctions will increase, and for this reason the demand has somewhat increased.
Zare noted: If we also look at the reality, many Iranians have put their houses up for sale and are seeking to emigrate due to the existing conditions, and this too is one of the variables that has affected the rise in the exchange rate. Now, I do not know whether the news that was published is correct or not; but it was said that within 48 hours, 240 thousand units in Tehran were put up for sale, which is also worrisome and is one of the variables that has a very significant share in the rise of the dollar’s price.
Regarding whether the discussion of activating the snapback mechanism has also influenced the rise in the exchange rate, he said: Snapback is one of the reasons being mentioned, as it is said that if it is activated, sanctions will become more severe. In the rise of prices, the main factor is these sanctions, which return to their original state with the snapback mechanism, and this affects many areas including oil sales, imports, and SWIFT. Of course, the current government so far has controlled the rise in prices well.
This member of parliament reminded: From 2020 to 2024, the official exchange rate has increased by almost 3.5 times, but gold has increased 5 to 6 times, which is a matter of concern, and domestic oversight must be strengthened.
Regarding the elimination of four zeros from the national currency, he stated: The elimination of four zeros has been approved in the Economic Commission. This measure will facilitate economic transactions and people’s dealings, but in order not to be forced to again eliminate four zeros in future years, we must control the inflation rate. This must be placed on the agenda. Overall, this bill has currently been passed in the Economic Commission and must be reviewed in the parliament’s plenary.
Zare, pointing out that eliminating zeros from the national currency will not help control inflation, said: This measure only helps to simplify economic matters, people’s transactions, and accounting operations, but in the long term, alongside this action, controlling inflation is important.
