(Persia Digest) – The Head of the union for Iran’s telecommunication devices has said: “With the rising dollar prices on the forex market, people’s purchase power for mobiles has decreased and figures indicate that mobile sales have halved at the outset of Nowruz.
Mahdi Mohebbi stated: “The market is stagnant due to rising dollar prices on the forex and people are refraining from buying mobiles.”
He said: “An expensive dollar has spiked mobile prices leading to a sharp drop in sales on the outset of Nowruz as compared to previous years when we always had a flourishing market. As figures indicate, sales have halved YOY.”
Mohebbi continued by saying that prices on the mobile market are stable, adding: “As compared to fluctuations in the price of the dollar mobile prices are stable.”
Persia Digest (PD) reports that the Iranian currency was severely devalued as compared to the dollar following the US unilateral withdrawal from the 2015 JCPOA nuclear deal in 2018 and the reinstatement of sanctions on Iran. This has taken its toll on all prices for goods.
Click here for more economic news.