As the national currency continues to fall against the dollar, Iran’s Minister of the Economy says he is not too concerned about the rise in the exchange rate, adding that sharp fluctuations will no longer occur.
Ali Tayyebnia said the rise in the exchange rate for the dollar is not too significant and the Central Bank is able to manage the currency market.
He stressed that there may be small fluctuations, as might be seen in any currency market, but they are not too concerned that there will be a dramatic change in the value of the national currency.
Iran’s dollar exchange rate was stable for about 10 years but two years ago it suddenly tripled and even reached about 4,000 toumans.
While the exchange rate for the dollar became somewhat stabilized at just above 3,000 toumans in November, the decision to renew nuclear talks at the end of November and the continued drop in oil prices have once again pushed the exchange rate higher.