Tehran, Iran, Jan. 21
By Kamyar Eghbal – Trend:
Iran’s failure to establish full banking ties with the world has caused troubles in the country’s currency market, an Iranian official said.
The deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture, Pedram Soltani, has said that the Central Bank of Iran in the current situation can only protect the gap between the official and free market rates of the currencies.
Calling for structural reforms in Iran’s banking system, he said that the world will consider Iranian banking system as a risky system, unless the country manages to implement the international baking standards.
Criticizing most of the Iranian banks for their failure to undergo reforms, he said that main trouble in the currency market and the country’s failure to introduce a single currency rate system roots in the reluctant behavior of leading banks to establish full ties with Iranian counterparts.
Over the past couple of days Iran's foreign exchange market witnessed a considerable rise in the rates of all major currencies against rial, the national currency.
During the past week, the rate of greenback in the Iranian free market has surged by 2.42 percent, posting 45,330 rials on Sunday.
In the meantime, the official rate of US dollar has also increased by 0.47 percent to stand at 36,639 rials.