Stability to come back to forex market: CBI governor

December 9, 2019 - 18:0

TEHRAN- The governor of the Central Bank of Iran (CBI) said that the bank will bring stability back to the forex market, IRIB reported.

“We do not let any excitement affect this market and as we managed to control the forex rate during the past year we are trying to bring stability to this market again”, Abdolnaser Hemmati said on Monday, while expressing hope that normal condition will be created in the market.

He mentioned gasoline rationing plan implemented since November 15 and also submitting the national budget bill to the parliament yesterday and the issues relating to different sectors of the bill as two major factors affecting the forex rates and said those who want to raise the rates uses such things to cause shocks to the market.

The Iranian government has started rationing of subsidized gasoline and increased fuel prices as part of a plan to reduce the energy subsides to use the revenue for supporting underprivileged families.

The increase in the gasoline price has risen prices in some other markets including gold and foreign currency markets.

MA/MA

Leave a Comment

2 + 5 =