85650
Seif: Currency Volatility Not Linked to Past Banking Woes
Seif: Currency Volatility Not Linked to Past Banking Woes
Tuesday, May 01, 2018

Seif: Currency Volatility Not Linked to Past Banking Woes

Tuesday, May 01, 2018

Seif: Currency Volatility Not Linked to Past Banking Woes

The governor of the Central Bank of Iran has decried analyses linking the recent volatility in the foreign exchange market to past woes besetting the banking system. 
Valiollah Seif wrote on his channel in the popular messaging app Telegram that he welcomed different views concerning the forex market, but wrongful analyses of currency depreciation should be avoided.   
“Factors influencing the foreign exchange rate have both economic and non-economic reasons,” he wrote. 
“In recent days, some views have circulated about forex volatility and in one analysis, the reasons have been traced to banks’ sour assets, high interest rates, tight monetary policy and doubling of liquidity in proportion to the monetary base and also the negative balance of payments.” 
The CBI chief attributed the fluctuations to external factors such as uncertainty about the US staying in the nuclear deal that Iran signed with world powers in 2015.
 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/ghUrA6
05/01/2018
  1. https://goo.gl/LRHDsN
  • https://goo.gl/dfV9mK
  • https://goo.gl/NdikY5
  • https://goo.gl/CG1mjs
  • https://goo.gl/5jLxfs

You can also read ...

Effects of Sanctions on Food Consumption of the Poor
It is now clear that the purpose of US sanctions against Iran...
CBI Moves to Sideline USD
As part of the latest measure to ditch the US dollar from the...
Surcharge on Forex Rate Difference “Illegal”
The retrospective application of Clause Five of the government...
New Online System to Monitor Warehouses Countrywide
All warehouses in Iran are required to register in the so-...
Bank Loans Hit €18 Billion in 4 Months
Banks and credit institutions allocated a total of 1.67...
Sanctions, Banking Troubles Facing Iranians in Hong Kong
Banking for companies that do business with Iran–as well as...
Sesame Oil, Products Imported From  6 Countries
More than 1.38 million tons of sesame oil and products worth $...
Gov’t to Build  2 New Towns
The Iranian government will commence the process of building...

Add new comment

Trending

Googleplus