Business And Markets

CBI Returns to Quell Forex Market

Struggling to bring some semblance of stability to the turmoil gripping the currency market, the Central Bank of Iran said it was again pumping cash to stabilize the situation. 
In a press release published on its website on Monday, the CBI said it had increased forex offer at the secondary foreign exchange market by 27% compared to the earlier session. 
Known by its Persian acronym, Nima, the secondary market is a trade platform where exporters sell their forex earnings and importer buy it for import needs. 


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