OMO Keeping Monetary Variables in Check

The Central Bank of Iran in a report assessed the role of open market operations in monetary policy and "modifying interest rates" and "controlling money supply" in the last calendar month ending Feb.18. 
The CBI said it regularly implemented the OMO in the period through which more than 600 trillion rials ($2.4 billion) was injected into the interbank market to meet lenders' "emergency needs" for liquidity. 
As part of measures to control the monetary base, the regulator encouraged lenders to engage in OMO. Using bonds as collateral to borrow from the CBI and regulating interbank interest rate are key elements of the OMO.