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Countdown to Secondary Foreign Exchange Trading
Countdown to Secondary Foreign Exchange Trading
Wednesday, July 04, 2018

Countdown to Secondary Foreign Exchange Trading

Economy Minister Masoud Karbasian said on Tuesday the stage is set for the trading of foreign currency at negotiated rates and that “the secondary forex market would be established within 48 hours”
Wednesday, July 04, 2018

Countdown to Secondary Foreign Exchange Trading

As markets await the official launch of the "secondary foreign exchange market" in the bourse, officials and merchants alike hope that the measure will provide some respite to the market where only the unified rate of 42,000 rials has been recognized by the government for the past few months. 
The acceptance of forex trade at "negotiated rates" finally came after the government found itself unable to meet the tsunami of demand for imports at the subsidized rate that became particularly attractive after the forex rally in the open market intensified in recent weeks. 
Economy Minister Masoud Karbasian said on Tuesday the stage is set for the trading of foreign currency at negotiated rates and that "the secondary forex market would be established within 48 hours". 

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07/04/2018
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