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CBI maintains stability of Iran`s currency market despite psychological propaganda

Iran Materials 16 March 2020 16:21 (UTC +04:00)
The head of the central bank of Iran posted a note on his Instagram about currency dealer`s psychological propaganda to raise foreign currency rates.
CBI maintains stability of Iran`s currency market despite psychological propaganda

TEHRAN, Iran, March. 16

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The head of the Сentral Bank of Iran posted a note on his Instagram page regarding psychological propaganda that is affecting foreign currency rates, Trend reports.

“Due to the coronavirus outbreak, there's virtually no real demand for foreign currency in the country," Abdolnasser Hemmati said on Instagram.

“The foreign currency rate for importers is in a downward trend, due to the significant supply of non-oil export currency and injection of the currency by Central Bank into the NIMA system,” he added.

Hemmati went on to say that more than $1.5 billion have been injected into NIMA system in February-March.

“However, illegal currency dealers are trying to increase the currency rates, using psychological tricks,” he said.

“In the past two years, the central bank has managed to maintain the stability of the foreign exchange market, despite political, military, psychological propaganda and US pressure against Iran,” the CBI governor said.

The World Health Organization (WHO) on March 11 declared COVID-19 a pandemic.

Iran is one of the countries heavily affected by the rapidly-spreading coronavirus. According to recent reports from the Iranian officials, over 14,900 people have been infected, 853 people have already died. Meanwhile, over 4,900 have reportedly recovered from the disease.

The country continues to apply strict measures to contain the further spread. Reportedly, the disease was brought to Iran by a businessman from Iran's Qom city, who went on a business trip to China, despite official warnings. The man died later from the disease.

The Islamic Republic only announced its first infections and deaths from the coronavirus on Feb. 19.

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