The regulated foreign exchange market that is slated to commence work by mid-May has already launched its pilot trade.
According to details provided by IBENA website -- affiliated to Central Bank of Iran -- the market will deal in wholesale currency in banknotes with exchange bureaus and banks.
This means that retail forex trade will be the function of currency offices outside of the regulated forex market.
The venue of the market is the second head office of the CBI in Ferdowsi Street in downtown Tehran.
April 27, 2019 20:08
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Iran's Regulated Forex Market Launches Pilot Trade
As for pricing, the market is tasked with drafting a trading by-law, approved by the CBI, based on which the prices in the closing hours of each trading day determines the next day’s price with a difference not more than 5-10%
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