Support for CBI Intervention in Currency Market

Intervention of central banks in currency markets does not happen only in Iran, says a former head of Tehran Stock Exchange.
"Central bankers around the world use a variety of methods to control the market and protect the value of their national currencies.  The Central Bank of Iran should do its best to prevent the decline in the value of the rial and support local businesses," Ali Rahmani was quoted as saying by ISNA.
He referred to controlling instruments, the regulated forex market and oversight bodies as the three basic arms of central banks’ intervention, though he holds the opinion that Iran needs to develop more up-to-date instruments.