Exporters not happy with devaluation of national currency

Speaking to ILNA, Lahooti said that it is said exporters are happy with the rise in the value of dollar and devaluation of rial in recent days is not true and it is a mere accusation against exporters because exporters seek stability in the forex market and no exporter is happy with the sudden rise in the price of the dollar for his profit.

He added that unfortunately with the rise in the price of dollar in the market, the prices of the goods also soar but when the price of the dollar falls, one can see no fall in the price of the goods.

Lahooti added therefore, if the exporter sells his goods existing in his warehouse with higher prices due to the rise in the price of dollar, he will lose major part of his profits when he wants to provide raw material with higher prices. He noted that so exporters prefer stability in the forex market and they prefer the rise of forex price in accordance with the trend of the inflation and other economic variants, and they want no commanding on fixing the price of the forex.

He added that the artificial reducing the value of the dollar will lead to the fly of capitals and the purchase of the properties in the neighboring countries as well as the rise in smuggling goods into the country because of the cheaper price of the foreign goods.

Lahooti noted that for this reasons any exporter is opposed to the sudden slump of the forex price and it does not mean he is opposed to the national currency gain value because all wealth and assets of a producer and exporter is in national currency rial and definitely with strengthening the value of the national currency, purchase power of any Iranian will increase.

Reacting to the report of ministry of industry, mine and trade on the 80 percent rise in non-oil exports in the current year, Lahooti said that this rise is in comparison with the same period last year when the borders were closed due to the lockdown and therefore it is natural that we see such a rise but the non-oil exports have not increased so much in comparison to the pre-pandemic era.

He added if the country sees rise in the exports, it is because of the new regulations of the ministry and the central bank over the repatriation of the forex into the country as well as some new incentives.

Lahooti reiterated that sudden regulations will harm exports and stability in the regulations and easing the hurdles are major points for boosting the exports.

He noted that some issues like the FATF as well as the political grounds should be resolved for achieving the dreamy target of $250b exports.

END