CBI Says Trying to Restrain Forex Rates as Rial Tumbles

EghtesadOnline: CBI Says Trying to Restrain Forex Rates as Rial TumblesCBI Says Trying to Restrain Forex Rates as Rial Tumbles.

News ID: ۷۵۲۱۱۰

18 December 2022

The Central Bank of Iran is making concerted efforts to stabilize the chaotic forex market amid the steep decline in the national currency, the bank governor said.

“We have set up a joint committee with the Oil Ministry and the Ministry of Industries, Mining and Trade. It is focusing on the country’s trade and currency trends and help ensure their compatibility.

At this juncture we are providing the market currencies that are in higher demand and collecting those for which the demand is less and turning it into the former and reinjecting it into the market,” Ali Salehabadi was quoted by IBENA as saying.