High Forex Rates Impact Cell Phone Prices

EghtesadOnline: With the surge in foreign exchange rates in Iran cell phone prices have shot up 15% in just two weeks.

News ID: ۷۷۲۸۱۶

01 January 2017

Head of Iran’s Telecommunications Guild, Gholamhossein Karimi, in an interview with Fars News Agency said that with increase in the price of the greenback and decline in the value of the rial imported mobile phones have been more expensive. The dollar has been thrust into the spotlight for more than a month. On Thursday 40,410 rials was buying a dollar -- 7.7% dearer from its low of 37,500 two weeks ago. Karimi said all imported goods, including mobile phones, has been impacted negatively by the rise in the exchange rate, which senior government officials claim is a temporary phase and “thing will get back to normal soon.”