Iran expects balance in foreign currency rates

Business Materials 16 January 2021 10:12 (UTC +04:00)

BAKU, Azerbaijan, Jan.16


Iran expects the foreign currency rates in the country to decline and become more balanced, said the Governor of Central Bank of Iran Abdolnasser Hemmati, Trend reports via Mehr News Agency.

"There have been different views and judgements as well as analysis in recent days about the decline of the foreign currency rates in Iran," he said.

"The foreign currency rate trend is formed based on the market's fundamental principles," Hemmati said.

"There have been increased expectations over rise of the currency rates. This has affected the foreign currency rate itself, so the less expectations there are, the faster rate becomes more balanced and get its economic value," Hemmati said.

"The Central Bank of Iran has used all its power to keep the foreign currency rate balanced, and boost the value of the national currency," he said.