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Iran Secondary Forex Market Rate to Be Set by Supply and Demand

Secondary Forex Market Rate to Be Set by Supply and Demand Secondary Forex Market Rate to Be Set by Supply and Demand

As uncertainties loom over the way foreign exchange rates will be set in the newly-launched secondary foreign exchange market, a Central Bank of Iran official said "supply and demand" will be the determining factor. 
Mehdi Kasraeipour, the head of CBI's Foreign Exchange Policies & Regulations Department, explained that as announced by CBI Governor Valiollah Seif last week, non-oil exporters have been divided into two groups in the Secondary Forex Market.
"The two groups include the 80% constituting exporters of petrochemicals, minerals and steel, and the group comprising 20% of other non-oil exports," Kasraeipour was quoted as saying by IRNA. 
 

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