Majlis Expects Central Bank of Iran to Stabilize Forex Market

In the wake of the government authorization to the Central Bank of Iran to intervene in the foreign exchange market, the head of Majlis Economic Affairs Commission Mohammad Reza Pour-Ebrahimi said the measures should help curb volatility and restore stability to the market.

"The parliament has supported the move and has granted the central bank powers that would enable it improve the currency market," Pour-Ebrahimi told state TV.

Mahmoud Vaezi, President Hassan Rouhani's chief of staff told the state TV late Saturday that with the new measures foreign currency rates "will definitely" decline within the next 2 months.