New Measure to Fast-Track Foreign Currency Allocations

EghtesadOnline: On recent measures taken by the CBI Farzin said, is Allocating currency from the government's reserves for essential goods and medicine is one of the first steps to restore stability and prevent steep jumps in exchange rates.

News ID: ۷۵۲۵۳۷

13 May 2023

Mohammad Reza Farzin, the Governor of the Central Bank of Iran, said the CBI has started buying and selling currencies directly, to help accelerate the process of currency allocation.

In a meeting with exporters, importers, and producers Farzin said, "Foreign exchange rate is one of the fundamental issues for the economy…considerable part of the time and efforts of the bank and the government is focused restoring stability," the CBI website quoted him as saying.

He stressed that most of the currency is supplied by exporters, including petrochemical and steel companies.