Six months given to see if Iran Central Bank's policy effective
Tehran, Iran, Dec.25
The Central Bank of Iran (CBI) monetary policy to control foreign currency fluctuation has continued to affect the market, while the prediction over its consistency varies.
"Predictions require information, I do not know how much the government has foreign currency reserves and there are no statistics available on the oil sale, all of this is confidential," Vice President of Iran –China Chamber of Commerce Majid Hariri told Trend.
"With regards to the foreign currency reserves, if the CBI policies can last for at least 6 months, people may count on some stability of the foreign currency market," Hariri said.
"Of course each policy has its pros and cons, and naturally, during the sanctions, the costs and profits should be precisely calculated," he noted.
In order to protect itself against US sanctions, Iran has imposed an import ban on 1,339 products. The products are to be produced domestically instead.