Iran 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.