EghtesadOnline: The rial extended a losing streak against major currencies for the third day on Wednesday, pushing the Central Bank of Iran to intervene in the market to restore some semblance of calm.

EghtesadOnline: The Supreme Council of Economic Coordination extended the authority of the central bank governor, Abdolnasser Hemmati, for one more year to intervene and regulate the foreign exchange market, the government spokesperson said at the weekend.

EghtesadOnline: In the wake of the government authorization to the Central Bank of Iran to intervene in the foreign exchange market, the head of Majlis Economic Affairs Commission Mohammad Reza Pour-Ebrahimi said the measures should help curb volatility and restore stability to the market.

EghtesadOnline: The government on Saturday authorized the central bank to intervene in the foreign exchange market to prop the rial after the currency fell to record lows in recent weeks against major currencies.