Business And Markets

Forex Supply Offsets Demand, CBI Says

In the past two weeks the currency market has seen a fair share of volatility spurred by expectations about higher rates that apparently gave rise to “precautionary demand”
Forex Supply Offsets Demand, CBI Says
Forex Supply Offsets Demand, CBI Says

The Central Bank of Iran says the supply of currency for imports outpaced damned over the past three weeks. 
“Forex resources are enough to fully cover imports as well as [needs of] the people,” the CBI said in a press release on its website.
It said $4.8 billion was offered by non-oil export firms on the secondary foreign exchange market, known locally as Nima, in one week but only $1.5 billion was bought by importers.    


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