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We begin tonight’s edition of A Window to the Fatherland with Dr. Alireza Nourizadeh reading one of his poems from the book of his collected works.
Dr. Alireza Nourizadeh:
In tonight’s program we will speak to our special guest the Tehran based journalist Mr Navid Jamshidi and start by asking him about the sudden fluctuation in the exchange rate in Iran’s money markets and what are the real forces behind them.
Navid Jamshidi:
The latest fluctuations did not appear during the summer time but now have emerged once again as it was quite predictable given the temporary lull, which was caused by the government’s forceful intervention.
The laws of economics do not accept forceful state measures and even if they work, their results will be temporary and soon they will face a dead end.
One of the main reasons for this is that most of our manufacturing companies have lost their raw materials and have slowed down or stopped.
The situation has become worse on the eve of approaching the new Iranian year and at the same time political problems of the country have had an adverse psychological effect on the economy as a whole.
Dr. Alireza Nourizadeh:
It seems the slightest change in the value of foreign currencies outside Iran also affects the exchange rates in Iran and it is not only the US dollar that is the main player in Iran’s money markets.
Navid Jamshidi:
That is quite true. But when we talk about US dollar and its value we are in fact talking about the value of Iranian toman. Naturally Iranian people are always conscious of the value of other foreigncurrencies too to benefit from exchanging their savings into them as our own currency is always on the free fall.
