CBI reacts to sharp rise in dollar rate
TEHRAN, Iran, Sep. 9
The Governor of the Central Bank of Iran announced the strong influence of the CBI in the monetary and foreign exchange markets to control the fluctuation.
“In the last few days, due to the inflammation in some markets, we have experienced exchange rate fluctuations,” the CBI governor, Abdolnasser Hemmati said in a statement published on his Instagram page, Trend reports.
Hemmati stated that in the last two years, the policy of the Central Bank has been to be active in the market to prevent speculation.
“The CBI policy has reduced market fluctuations and gradually adjusted the exchange rate,” he said adding that the CBI will continue the same policy.
He described the NIMA system (The foreign exchange rate in Integrated Forex Deals System) as the main foreign exchange market adding that "Fortunately, after a break at the beginning of the year due to the coronavirus pandemic, the exchanges in this market have increased. About $100 million is exchanging through the NIMA system on daily basis.”
NIMA is a system intended for the sale of a certain percentage of the foreign currency gained from export. The price of 1 euro in this system is 266,211 rials, and the price of $1 is 208,699 rials. In the black market, $1 is worth about 255,000-260,000 rials.