Regulated Forex Market to Open August 12

The regulated foreign exchange market will be launched on August 12 to coincide with the annual feast of Eid al-Adha (Eid- e- Qorban in Iran), the governor of the Central Bank of Iran said Saturday.  
Abdolnasser Hemmati made the announcement in a meeting with Mahmoud Shekasteband, the CEO of the company that will oversee the new currency market, the CBI’s official website reported. 
The Regulated Forex Market Company was registered in late April and has launched pilot trade since then. 
Shekasteband discussed the latest banking and forex developments with the CBI chief and the two sides reviewed results of the pilot operation to ensure the smooth launching of the long-awaited mechanism designed to give a semblance of stability to the volatile currency market.