Business And Markets

Currency Stabilization Fund Planned, CBI Says

Launch of the currency stabilization fund should help improve the stability of the forex market, attract foreign investment and boost growth
Currency Stabilization Fund Planned, CBI Says
Currency Stabilization Fund Planned, CBI Says

The Central Bank of Iran said it has plans to launch a currency stabilization fund to lift the sagging rial and stabilize the chaotic forex market. 
According to Mohammad Reza Farzin, the CBI governor, the fund will intervene if and when necessary to maintain exchange rate stability. 
The move is one of several being implemented by the regulator to improve the forex market that has seen more than its fair share of turbulence over the past several years.
"Another measure will be the establishment of a currency futures market, which will allow for the purchase and sale of forex at a fixed price. This will help make rates more predictable for businesses and individuals," Farzin was quoted as saying by the CBI website. 


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