NEWS
ECONOMY   Banks  

Iran’s Central Bank to Launch Integrated Currency Market

The Central Bank of Iran is going to launch a unified currency market that would handle the flow of money to and from banks and currency exchange stores.

Abdonnaser Hemmati on Tuesday said the Central Bank will put the integrated currency market into practice within the next two weeks.

The integrated market, focusing on banknotes, would regulate the retail and wholesale purchases in the form of cash or electronic trade, he added.

According to Hemmati, the Central Bank of Iran will handle the new currency market, designed to control the trade of banknotes in large quantities in banks and currency exchange stores.

He said that the Central Bank’s policies over the past 6 months have resulted in relative economic stability and calm in the country’s money and currency market.

Last week, Hemmati explicated the Central Bank’s plans to neutralize the economic pressures and psychological war waged by the US and its allies with the aim of destabilizing Iran’s currency market.

In August 2018, Hemmati unveiled a new package of regulations on foreign currency trade which lifted a ban on the activity of money exchange markets.

Iran’s market experienced a sharp rise in the value of foreign currencies and gold coin prices in summer 2018. The Iranian money plunged to a record low against the US dollar in August.

Comments:

Leave a Comment:

   
   
   
 

Top Banker Upbeat on Durable Stability in Iran’s Currency Market

The Central Bank of Iran would maintain control over the country’s currency market despite the hostile attempts by the US and its allies, the bank’s governor said.
 

Iran's Rial Rises despite US Sanctions .

The prices of the US dollar and gold coins– two key drivers of consumer prices – were on decline in recent days in what is seen as a clear defiance against earlier predictions that sanctions could trigger a price shock in the country.
 

South Korea, Iran to Trade in Local Currencies

South Korea says it has reached a deal with Iran to use local currencies in mutual trade between the two countries instead of the US dollar.
 

CBI Chief Announces Iran’s Special Measures to Counter US Sanctions

Governor of the Central Bank of Iran Abdonnaser Hemmati explained about the CBI’s measures to counter the new round of US sanctions imposed on the Islamic Republic.
 

Iran Sanctions to Undermine Dominance of US Dollar: European Diplomats

European diplomats say enhanced US financial sanctions against Iran could force the rest of the world to create alternative banking systems that would undermine the long-time dominance of the US dollar.
 

Iran-EU Monetary Pact to Be Finalized Soon: CBI Chief

The governor of the Central Bank of Iran (CBI) described a European Union plan to set up a way to preserve business with Iran and avoid renewed American sanctions as a kind of monetary pact and said it will be finalized in the near future
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners