Hemmati Reiterates Role of Market in Forex Rates

Governor of Central Bank of Iran Abdolnasser Hemmati says the regulator is steadfast in the belief that market forces should determine forex rates. 
"The central bank has a strong conviction that currency rates should be independent of budgetary and fiscal policies," he wrote in a note posted in his Instagram account late on Friday. 
Hemmati's note came in an apparent reference to statements by president's chief of staff Mahmoud Vaezi about real forex rates. His stance was construed by many that the government advertently influences the forex market to fund its budget deficits.