CBI chief stresses need for formation of organized forex market

TEHRAN, Nov. 22 (MNA) – Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati has stressed the need for bringing the free and official markets into a one single organized market.

Speaking to reporters on Wednesday, Abdolnaser Hemmati said that the newly re-imposed US sanctions which took effect on November 5 and the economic pressure exerted by Washington have not had the desired effects on Iran's forex market, because of the appropriate economic policies adopted by the CBI.

Hemmati stressed the need for further organizing the foreign exchange market, which has seen fluctuations in the past few months.

The CBI governor further said the government is going to bring the prices in the free market and the official market in a one single market to bring the market oscillation under more control.

He said that the government is aware of the existence of the free market but he said that it needs to be organized and the gap between the prices of the free and the official market need to get closer.

He said that people must be able to refer to the exchange shops and bring their banknotes into the market freely to contribute to the formation of the organized market.

Hemmati said that an organized foreign banknotes market will be established as a significant goal of the CBI.

KI/4464742

News Code 139832

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