The most important factors influencing the price of iron and steel in the current situation are focused on two issues. The first issue is determining the task of Borjam and the second is the exchange rate in the scenarios of agreement or disagreement of Borjam and the steel market policy for each of these scenarios. In the following, we will examine the situation of the dollar market in the current markets and what effect it has on the stock market. Please be with Artan Press.
*** Distribution of rent due to the double value of the dollar
Yesterday, $ 124 million was traded in the Nima system with a weighted average dollar exchange rate of 217,841 Rials. Also, yesterday, we saw the supply of about $ 134 million in remittances in the Nima system to provide the country’s import currency. Providing export currency in the summer is one of the most important concerns of the central bank in the current situation. Although the central bank does not follow a specific policy in the current situation, the markets usually do not rick and provide the dollars they need in this volatile market. Therefore, in the current situation, the dollar’s desire to increase prices has increased. This trend will probably continue until the end of Rouhani’s government. More than 3500 Tomans rate difference between half remittance and dollar banknotes; An event that is by no means favorable to the transparency and trends of our commodity markets.
*** Inflammation of the dollar and steel market is possible
The steel market is likely to be price volatile in the coming days. An analysis of the single dollar exchange rate has already been presented. In the analysis, we stated that the double exchange rate in the dollar market in the current situation has brought a heavy rent for some people, the smoke of which will go to the eyes of the people and consumers. It seems that the market speculators are catching their last fish from the muddy waters of the foreign exchange market.
Definitely the possibility of selling the export product in the border markets at the rate of dollar banknotes and this price difference of 3500 Tomans with the rate of remittance of half a dollar; Inflammation and some disturbances in the domestic steel market will intensify; Unless the export rate is so low that it can neutralize the effect of this inflationary situation of the dollar banknote in these transactions, of course, receiving $ 24,500 is far more attractive than the reduction of the export rate in the border markets.
*** The role of the FATF in dollar market inflammation
Part of the complexity of the current conditions of domestic market regulation; In fact, it is related to these discrepancies in the price of banknotes and remittances that will intensify the existing challenge in some way. On the other hand, other political chocolates have entered in providing the currency needed by the country. For example, money released in European banks cannot be transferred to the country due to non-implementation of FATF recommendations.
At the time of the $ 6 billion foreclosure order in Italy, such an amount did not exist in the accounts of the central bank in Italy. However, confirmation of this ruling in higher courts could have led to the expulsion of the central bank from monetary activity in Europe and the impossibility of establishing banking brokerage relations on that continent, which was very harmful and dangerous. At the moment, these funds have been released and are not in seizure, but due to sanctions and non-implementation of FATF recommendations and, consequently, lack of banking brokerage relations, these funds are not currently transferable to the country. However, the path of currency exchange abroad is facing serious challenges.
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