Economy, Business And Markets
0

$1.5 Billion Traded in Iran's Secondary Forex Market

$1.5 Billion Traded in Secondary Market $1.5 Billion Traded in Secondary Market

Figures show that Nima, the online foreign exchange system set up by the Central Bank of Iran at the behest of the government, is increasingly being embraced by traders following forex policy amendments.
About $1.5 billion worth of deals have been conducted in the system from Aug. 6 when President Hassan Rouhani's administration signaled an about-face in its foreign currency policies and promised a market free of government meddling, IBENA reported.
From late April when the government officially launched Nima to boost transparency on the back of its initial policy based on fixing forex rates, the system has seen about $12 billion worth of deals between importers and exporters.
 

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.

Add new comment

Financialtribune.com