‘Currency, gold exchange center to control market fluctuations’

TEHRAN- The Central Bank of Iran (CBI) will open a new center for the exchange of currency and gold on Tuesday in order to control the market fluctuations and determine the rates based on the economic realities of the country, the CBI Governor Mohammad-Reza Farzin announced in a live TV program on Monday.

“Unfortunately, the current rate in the market is not the rate expected and accepted by us in the central bank”, the official lamented, adding that the rate that will be discovered and announced in this center will be the base rate and pricing reference in the market.

“During the recent months, the central bank has tried to provide enough foreign currency for all the real needs of the country, according to this, in the current year, the currency provided in the NIMA System (domestic Forex Management Integrated System) for importing all the goods needed by the country has risen 48 percent compared to last year”, Farzin further stated.

Saying that in the current situation, the central bank will try to use all the past experiences in the field of currency, the CBI governor emphasized: “The use of past experiences is to minimize currency fluctuations, and God willing, we will see stability in the currency market.”



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