Iran to unify forex rate after sanctions lifted

TEHRAN April 26(Shana)–Iran plans to consider unifying two-tier foreign exchange rate after sanctions are lifted on the country, the minister of economy said.

Ali Tayyeb-Nia said the administration of President Hassan Rouhani envisages short-term, mid-term and long-term plans for post-sanctions era.

He said the government should consider cutting dependence on oil revenues.

“An agreement will definitely leave positive effects on the forex and capital market and we cannot deny it. However, we are worried about emotional behaviors and would have to be careful,” said the minister.

Tayyeb-Nia said the government plans to no longer inject its unfrozen petrodollars into the country’s budget to avoid inflationary impacts.

By SHANA