IFB calls for creation of foreign exchange market in Iran(exclusive)

Business Materials 14 February 2018 17:52 (UTC +04:00)

Tehran, Iran, Feb. 14

By Kamyar Eghbalnejad – Trend:

Amir Hamouni, CEO of Iran Fara Bourse (IFB), has called on for creating a foreign currency market within the capital market, to deal with currency fluctuations in the country.

“If we had inaugurated currency market within the capital market, we would not experience such fluctuations,” the CEO of Iran Fara Bourse Co (IFB) which is an over-the-counter market in Tehran, Amir Hamouni, told Trend.

“Launching currency trades in the capital market within the framework of options and futures could perform as a stabilizer,” he suggested.

Iranian police in collaboration with the experts of the Central Bank of Iran have arrested 90 currency dealers amid growing currency prices.

Tehran Police Chief Brigadier General Hossein Rahimi has said that at least 10 currency exchange shops have been sealed.

According to the country’s real-time data sharing system, SANA, euro valued 59,860 rials in the free market on Tuesday, adding 1.43 percent. The Central Bank of Iran (CBI) put the official rate of euro at 45,539 rials.

The USD was quoted at 48,537 rials in the free market gaining 2.56 percent compared to the preceding day. The CBI put the official rate for the greenback at 37,019 rials.