Iran to create secondary currency market by next week

June 25, 2018

TEHRAN- Iran will set up a secondary currency market by the next week, Central Bank of Iran (CBI) Governor Valiollah Seif announced on Monday.

The decision was made as the Iranian rial plunged to a record low against the U.S. dollar in the unofficial market on Sunday, Tasnim news agency reported.
A detailed plan has been prepared for creation of this market, the CBI governor remarked, adding that this market will prevent the creation of indefinite rates offered by unauthorized brokers.
The official also announced that a system will be established to identify all commodities that have been imported using U.S. dollars at a rate of 42,000 rials, so that importers of those goods cannot sell them at higher prices.

MA/MA

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