Economy, Business And Markets

New Market for Foreign Currency

New Market for Foreign CurrencyNew Market for Foreign Currency

The head of the Securities and Exchange Organization on Wednesday announced an imminent launch of a foreign currency market in Tehran for the first time. The market is seen as an Iranian version of FOREX market. Ali Salehabadi said various aspects of the plan have been discussed in a meeting between officials from the central bank and the Central Securities Depository Company, SENA reported. The required software has already been designed and the market will be launched within a week as soon as market officials get the green light from the parliament, he added. The market will start its work with spot transactions, while future transactions are also on the agenda.