Azerbaijan, Baku, Sep.24/ Trend F.Milad/
Iran's foreign exchange transaction centre was officially inaugurated today aiming to create a balance between the official and free market rates of foreign currencies, the IRIB reported.
Central Bank Governor Mahmoud Bahmani said yesterday that the total foreign currency earned through selling petrochemicals, as well as 14.5 per cent of oil revenues and two to 10 per cent of the National Development Fund's asset will be managed through the centre.
The base price for transactions will be lower than the free market rate, he noted.
The foreign exchange market is a form of exchange for the global decentralised trading of international currencies whereby a party purchases a quantity of one currency by paying a quantity of another currency.