While the unofficial currency market enters a bull run, a Central Bank of Iran official said trade in the Secondary Forex Market is increasing, with deals breaking a record on Tuesday.
Mehdi Kasraei-Pour, the head of CBI's Department for Forex Polices and Regulations, said in an interview with the state television late Tuesday that trade volume in the secondary market, which takes place through the online currency trade system locally known as Nima, hit €78 million on Tuesday–the highest figure since the market was first launched by the government on April 11.
Kasraei-Pour said the average exchange rate for the European currency since the market was liberalized on August 7 has been 89,000 rials.
September 05, 2018 19:46
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Iran Secondary Forex Market Trade Buoyant
Trade volume in the secondary market, which takes place through the online currency trade system locally known as Nima, hit €78 million on Tuesday
Some economists believe that the secondary market, due to its sheer size, is a more reliable indicator for the exchange rates than the unofficial market where dealings are very limited
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