Iran plans exports platform to counter ‘economic war’
Tehran (KNA) - The Iranian government has finalized a directive under which exporters would have to sell their foreign currency earnings on an online trading platform administered by the state.
The aim is to channel more foreign currency earnings into the country following media reports that major exporters such as Iran's petrochemical companies were not repatriating large sums of their earnings.
The measure comes as Iran is trying to prop up its national currency, the rial, which has sunk to record lows in the face of new US sanctions and panic buying of foreign currencies by some citizens.
Economy and Finance Minister Farhad Dejpasand was quoted as saying that the new plan would help the government deal with hostile US measures which state officials have characterized a full-fledged "economic war".
While the directive has been finalized, the government should send it to parliament for approval first.
The value of the rial has gone from strength to strength after Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei ordered the central bank this month to protect the national currency.
Over the week, the rial has jumped to trade in the range of 96,000 to 100,000 to the dollar threshold.
Source: PressTV