Pathology of The Currency Market Management Mechanisms by the Central Bank of the Islamic Republic of Iran in Currency crises, Emphasizing on The 2018 Currency Crisis

The exchange rate is recognized as one of the main variables in the economies of less developed countries,which is a key relative price in the economy and its changes are affected not only trade flows and balance of payments,but also the structure and The level of production,consumption, employment and resource allocation.Over‏the past four decades, the Iranian economy has experienced four currency crises,the last of which was the currency crisis in 2018.Examining the causes and factors of the currency crisis shows that domestic factors such as macroeconomic policies,the economic structure of the country and the degree of independence of the central bank, as well as external factors such as the international economic environment and various sanctions and threats can lead to currency crises.The present study,with the pathology of foreign exchange market management mechanisms,the role of the central‏bank in dealing with foreign exchange crises has‏been discussed.In this research,by using55research sources by interviewing the country's foreign exchange experts and studying books,articles,reports related to the harms to foreign exchange market management mechanisms was extracted,coded and have been classified to5themes and analyzed using the content analysis method.This research shows;problems and damages caused by the structure of the foreign exchange market,lack or weakness of some essential active strategies in foreign exchange market management,lack of some tools or weaknesses in the tools used in the Iranian foreign exchange system and lack of the independence and passivity of foreign exchange policymakers towards dynamic foreign exchange management have led to the inefficiency of foreign exchange market management policies.