CBI asks Iranian banks to interact to boost country's int'l trade
Tehran, Iran, Jan.14
The Central Bank of Iran's Vice Governor of Foreign Exchange Affairs has asked Iranian banks to interact during the current situation related to the national currency fluctuations, the issues with the foreign exchange market, in order to boost the country's international trade.
"Joint meetings between the banks and foreign exchange traders should be held to review the country's currency fluctuations in order to find solutions,” Gholamreza Panahi, Vice Governor of Foreign Exchange Affairs said, Trend reports citing IRNA.
Pointing to the approval of the establishment of a foreign currency-based market by the Money and Credit Council of Iran, he says that in this market, the main players of which are foreign exchange traders and banks, and currency transactions will be made in cash, and it will soon become operational.
The Central Bank governor Abdul Nasser Hemmati recently posted a message on his Instagram page regarding the Islamic Republic's foreign currency exchange situation.
"Starting and accelerating the supply of currency through India, South Korea, China, and the decision to expand trade with Turkey, Iraq and other neighbors, along with favorable reserves and the effective presence of the central bank in the foreign exchange market, will once again neutralize the US efforts to influence on the foreign exchange market," his message said.