TEHRAN, Iran, May.21
Trend:
The Central Bank of Iran (CBI) supports the improvement of the capital market, and the claim of reducing the interbank interest rate is false, said the Central Bank of Iran Governor.
One of the issues in our economy is the lack of evolution in financial markets and especially the capital market, said Abdolnaser Hemmati, Trend reports citing Mehr News Agency.
"I believe that stability in all markets including monetary, capital markets, and production is very important and the Central Bank of Iran supports capital market boom," he said during a meeting with businessmen in the capital market.
Hemmati went on to add that all markets are sensitive toward changes and it's not exclusive to the capital market.
"The country's economic activities sharply declined due to coronavirus, the National Headquarter to Control Coronavirus approved $17 billion financial aid to households with low incomes in addition to 10 million rial (about $238) loan," he noted.
"In this situation money supply was more than demand and banks had more than $16 billion surplus resources and the CBI set the interbank interest rate between 12 to 14 percent to preserve markets stability. In normal situation banks always had $3.5 billion in savings in the Central Bank of Iran and the claim that CBI reducing the interbank interest rate is false," Hemaati said.
"The transaction in the field of cryptocurrency is complex and it would not be solved by closing banking portals. The government formed a working group headed by the CBI about the issue. The Central Bank of Iran has discussed the necessary warnings about possible problems of cryptocurrency and we try to make a swift decision by the cooperation of the government and parliament," he stressed.
The businessmen in the capital market have discussed the exchange rate of bank properties, foreign currency rate, bank's interest rate, macroeconomic issues, and cryptocurrencies.