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Iran’s CB Allowed to Intervene in Forex Market

CBI Allowed to Intervene in Forex Market CBI Allowed to Intervene in Forex Market

The government on Saturday authorized the central bank to intervene in the foreign exchange market to prop the rial after the currency fell to record lows in recent weeks against major currencies. 
High Economic Coordination Council of Heads of Three Government Branches headed by President Hassan Rouhani and the heads of parliament and the judiciary, “gave the central bank governor the authority to manage and intervene in the foreign exchange market.” 
“The central bank will intervene in the foreign exchange market through banks and authorized exchange shops and undertake measures to control the exchange rate of hard currencies,”

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