Central Bank of Iran's policies play important role in USD rate stability

Business Materials 18 June 2019 09:28 (UTC +04:00)

Tehran, Iran, June 18


An analyst in foreign exchange market believes the policies in this field implemented by the Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati had positive effect on stability of USD rate.

"The formation of integrated foreign exchange market will ensure more supervision in foreign exchange market," said Ali Kamali in an interview with Trend.

The Money and Credit Council has expressed content over CBI approach in foreign exchange market management in NIMA system, control of rial, promissory note and Sana system for foreign currency rate. The foreign exchange market had stable trend in recent months. However, is it exclusively due to the policies of CBI governor Abdolnaser Hemmati and his team?

"The policies of Abdolnaser Hemmati and his team in the Central Bank of Iran had important effect in drop of foreign exchange rate, while integrated foreign exchange market would ensure more efficient supervision in foreign exchange market, so the work of CBI shall be appraised," said the foreign exchange market expert.

"There were high statistics over return of foreign currency revenues to NIMA system during past three months, which is an important indicator of stability in foreign exchange rate," he added.

The expert believes the real price of dollar should be less than current rate. "The approaches of Central Bank of Iran will reduce the foreign exchange rate, which will be very helpful for the country's exports and imports," he said.