Capital market optimistic about integrated forex market

May 28, 2019

TEHRAN- Iranian capital market’s experts are optimist about launching the integrated forex market, as this market promotes the performance of domestic industries which will lead to positive performance of the capital market, IRNA reported on Tuesday quoting some of these experts including Homayoun Darabi and Mohammad Eqbal-Nia.

These experts also believe that launching such market while supporting domestic industries will strengthen the country’s economic status against the sanctions.

Establishment of this market has been approved by the Money and ACredit 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.

The chairman of the Economic Committee of Majlis has announced that an integrated forex market will be launched in the country by the end of current Iranian calendar month of Khordad (June 21).

Mohammadreza Pour-Ebrahimi said by launching this market the other exchange rates like the Sana rate will be omitted gradually.

MA/MA

Leave a Comment

4 + 12 =