The Government to pay 4000 IRR in subsidiaries per each dollar spent to import essential goods. Iran writes, prior to the unification of the currency rate, essential goods such as corn, barley, soy and press cakes were imported with a 37000 IRR dollar rate. On April 9th, the government fixed the exchange rate at 42000 IRR for a dollar.
Last year, 9 million tons of corn livestock feed, barley and soy press cakes, valued at 3 billion dollars were imported into the country which supplied 80% of the demand. Since the fixed exchange rate is higher than the former one used to import such goods, it can lead to the increase in the price of meat, eggs, etc. In order to prevent this, the Government must pay 12 trillion IRR (286 million dollars) in subsidiaries to control prices.
