Tehran, Iran, Dec.11
Trend:
The governor of Central Bank of Iran (CBI), Abdolnaser Hemmati has indicated the role of monetary agreement between Iran and its trade partners and the launch of Special Purpose Vehicle would improve the country's status during the sanctions.
"In practice bilateral monetary agreement has been formed between Iran and some other countries and in the future it would strengthen", said Hemmati at a meeting with economic experts, Trend reports citing Tasnim news agency.
Hemmati announced the establishment of financial channels for Iran trades with other countries and said that the US dollar would no longer be considered as payment in trades with certain countries.
“The plan is a big effort during US sanctions.”
Iranian official also discussed the CBI interventions in foreign currency market with implementation of the Integrated Hard Currency Transactions (NIMA) that leads to drop in currency rates, helps producers to import raw materials with low foreign currency rate and provides basic goods and medicines.
"Regarding the drop of foreign currency rate, I hope the gradual return of foreign currency from exports revenues to the economic cycle would pave the way for supply of lower rate currency for importers", he said.
Referring to the limitation on bank card transaction, the CBI governor said that 'nowhere in the world an individual can transfer large amount of money by debit card or POS machine.'