‘All necessary measures taken to launch organized forex market’

May 21, 2019

TEHRAN- Iranian finance and economic affairs minister announced that all necessary measures have been taken for launching an organized forex market, IRNA reported.

Answering to the questions of the reporters on the sidelines of the 85th meeting between the ministry and Iran Chamber of Commerce, Industry, Mine and Agriculture (ICCIMA) as the representative of the country’s private sector, Farhad Dejpasand said the ministry have done all legal actions to this end and just the affairs related to the company (which is to be set up for such market) are being performed.

On May 10, the minister had said that an organized forex market will be launched in the country in the coming week.

Dejpasand said the mentioned market is due to set the real foreign currency exchange rates.

Establishment of this market has been approved by the Money and Credit Council (MCC), the highest banking policy-making body of the Central Bank of Iran (CBI), on January 8 as the CBI aims to explore the real volume of demand and supply in the foreign currency market through a new mechanism.

Regarding this market, a CBI official said on May 5 that the new mechanism aims to organize the transactions in the foreign currency exchange market between the exchange shops, Mehr news agency reported.

MA/MA

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