Forex market controlled for the nth time: CBI governor

TEHRAN, Apr. 24 (MNA) – "The illusion about any instability or inflation in domestic foreign exchange market, which was constantly spoken of, is broken for the nth time by the Central Bank of Iran’s (CBI) management," the central bank governor Abdol-Naser Hemmati wrote on his Instagram on Wednesday.

Referring to the US’ decision about ending waivers for Iran’s oil importers, he added that “any drop in oil revenues have to be compensated through reducing costs, building up some savings or via other income resources.”

“It is a must to spur non-oil exports more than before, and the CBI is to apply the related policies to encourage exporters to re-inject their forex income back to the domestic economy cycle,” he underlined.

In continuation of the US hostile policies against the Iranian nation, the White House announced on Monday that it has decided not to reissue waivers on Iranian oil after they expire on May 2.

In reaction to the White House statement, the Iranian Foreign Ministry Spokesman Seyyed Abbas Mousavi said yesterday that Iran considered the US sanctions as illegal from the start and their waivers as 'worthless.'

Some expected Iran's forex market to shatter due to Trump's decision.

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News Code 144443

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