Tehran, Iran, Oct.9
Trend:
Referring to the ratification of the bill of accession of Iran to the Combating the Financing of Terrorism (CFT) Reza Torkashvand, the CEO of Association of Bureaux de Change Operators of Iran said in a press conference that the transparency will increase in the market and in the long run will benefit the foreign exchange market and the economy of the country.
"But what we expect to be effective in the short term is not true," he said.
"In such situation, the only economic and cost effective way is producing commodity," he said. "On the other hand, if we open the currency rate(let market determine the FOREX rate) , everybody is going to take an advantage and be active in the foreign exchange market, and nobody is looking for productive efforts."
On April 11 the Iranian government suspended unofficial foreign exchange trade in a drive to rescue the currency from record lows hit because of U.S. economic sanctions.
Citing to appointment of Abdolnasser Hemmati as the new governor of the Central Bank of Iran he said that after these four months, with the change of the head of the central bank, a better and more realistic look replaced the previous situation, and the role of currency traders became clear.
“With the new Central Bank's regulations, we are removing the barriers and limitations of the work of exchange traders in compliance with the law.”