CBI mainly focuses on controlling liquidity, supporting domestic production: Hemmati

August 31, 2019

TEHRAN – Governor of Central Bank of Iran (CBI) said the bank’s current programs are mainly focused on controlling liquidity and supporting domestic production, IRNA reported on Saturday.

Speaking in the 30th edition of Islamic Banking Conference in Tehran, Abdolnasser Hemmati mentioned some of CBI’s major plans and programs for the current Iranian calendar year (began on March 21).

The official underlined the significant impact of the bank’s new policies on the country’s currency market and economy, noting that “reforming the country’s banking system is a long-term process which cannot be achieved over night.”

Hemmati stated that CBI has neither overlooked nor postponed reformation of banking system and the bank has always had modification of banking system on its agenda.

“CBI is taking all necessary measures to control the foreign exchange market in order to maintain market equilibrium in the country,” he added.

“The foreign exchange market is stable, and the reinjection of exports revenues into NIMA are getting better which is a sign that the country’s businessmen and traders are welcoming CBI’s recent foreign exchange policies,” he said.

He further mentioned the downward trend of inflation in the country over the past few months, saying that most of the inflation in the market is pertained to the services sector which is being closely monitored and will be controlled in near future.

EF/MA

Leave a Comment

9 + 2 =