Devaluation of the rial and exports to Iran

Factor TV · 5 minutes

“It has become more difficult for our exporters, because they need to understand the mechanism. If we used to export a certain product that cost, let’s say, 1,000 drams, we would sell it there at one price. Now, since the rial has depreciated significantly, let’s say twice, that means that the product will be sold there twice as expensive. The Iranian exporter will be able to sell it at the same price and make more profit.”