Iran's Integrated Foreign Exchange Market to operate next week

Business Materials 10 May 2019 16:26 (UTC +04:00)

Tehran, Iran, Mary 10


Iranian Finance and Economic Affairs Minister Farhad Dejpasand has announced that the Integrated foreign exchange market would be active next week to define the real USD rate.

"The Integrated foreign exchange market activity will have a positive effect on the foreign currency market.", he said, Trend reports citing IRNA.

Earlier, the chief of the Integrated foreign exchange market Mahmoud Shekasteband stated, "All the stages of the registration of companies have been completed, the necessary systems have been designed and the market will be tested soon."

In January 2018, Iran's Money and Credit Council has approved integrated foreign exchange market trade regulations aimed to organize and improve transparency of the market.

Speaking about the work of customs, the Iranian finance minister said, "Around 85 percent of the imports are intermediate goods and raw material. This means that we are boosting the country's domestic production."

He added, "If the non-oil exports increase, it will enhance Iran's credibility globally and cause more foreign currency return."