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On Monday, the rial’s depreciation continued and the currency was quoted at 60,150 to the dollar in the open market.
On Monday, the rial’s depreciation continued and the currency was quoted at 60,150 to the dollar in the open market.
Tuesday, April 10, 2018

Government Preparing New Response to Forex Volatility

The current circumstances are not good, therefore the government will use all the potentials of the system to stabilize the forex market
Because a broader policy other than that of the central bank was needed, several meetings were held with a mandate from the president and vice president
Tuesday, April 10, 2018

Government Preparing New Response to Forex Volatility

The current upheaval roiling the foreign exchange market requires a different response than in the past, as conditions surrounding the volatility have changed, the government spokesman said. 
Mohammad Baqer Nobakht also acknowledged that the current circumstances are not good, therefore the government will use all the "potentials of the system" to stabilize the forex market. 
"You recall that whenever the market faced fluctuations, we would reach balance within a short period of time as in last year. But the lack of such a balance this time shows that circumstances have changed and we should change our policies," he was quoted as saying by Fars News Agency  during a press briefing on Monday. 

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