55288
The US dollar has experienced significant  growth in recent weeks.
The US dollar has experienced significant  growth in recent weeks.

Single Forex Rates Still an Option

Single Forex Rates Still an Option

The Iranian government will implement plans for the unification of foreign exchange rates when the market regains stability, the government’s spokesman announced late Saturday.
“Forex rates are expected to become stable, considering the measures taken by the Central Bank of Iran [in recent days],” Mohammad Baqer Nobakht also said during a televised interview.
The official added that fluctuations in the forex market are natural in winter and “demand for foreign currencies grow as we get closer to the New Year’s holiday season”.
Nobakht confirmed that the government has set the US dollar rate at 33,000 rials in the next year’s budget plan.
Minister of Economy Ali Tayyebnia also said that the recent swings in currency markets are transitory.
 “The US dollar rate [against the rial] has grown by 3-4% during the past three years, which is a big achievement for the country, as it is lower than the rate of inflation,” he said in an interview with ISNA on Saturday.
The US dollar has experienced significant growth in recent weeks. According to Iran’s Association of Bureaux de Change, the currency sold for 39,000 rials on Sunday.
Central Bank of Iran Governor Valiollah Seif had earlier announced plans to end the country’s dual exchange rate regime by the end of the Iranian year (March 20, 2017) and let the rial float against other currencies in a “managed” way.
However, recent market volatility seemed to have put the kibosh on the plan.  
The CBI late last month allowed banks to trade in the foreign exchange market, paving the way for the adoption of a single forex rate regime.

 

Short URL : https://goo.gl/5GyAoB
  1. https://goo.gl/3i9N37
  • https://goo.gl/HUFx1l
  • https://goo.gl/4A8x0y
  • https://goo.gl/nAZ5VC
  • https://goo.gl/0NIVhe

You can also read ...

Iran has 9,000 online retail stores.
With the ever-growing developments in the World Wide Web,...
 TCCIMA Secretary-General Bahman Eshqi speaking in Vienna on Nov.16
Iranian banks are expected to open their first branches in...
USD at  41,000 Rials
After the US dollar’s recent bull run that pushed the value of...
Tesla Roadster Speeds in Front of Electric Truck
Tesla Inc upstaged its own debut of an electric heavy duty...
Helping the Quake-Stricken?  Not If They Are Iranians!
Iran is a hotspot of earthquakes and several of them have...
The first Iran-Luxembourg Forum opened on Wednesday and hosted...
Imported Flat Steel Buying Thin Over Lower Local Prices
Buying activity in the Iranian flat steel import market was...
New Initiative Promotes Indigenous Messengers
Users will receive 60% discount on Internet prices for using...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus