Central Bank of Iran Seeks Forex Stability

The Central Bank of Iran released a statement assuring the public and businesses that the recent price surge in the open market is bound to abate, as CBI seeks to deepen the market with more supply.

The statement, published on the bank’s website, comes after a fresh bout of volatility struck the market in the last couple of days. The resurgence in foreign exchange rates came after an initial stability had taken root in the wake of the new currency plan unveiled by the central bank last Monday.

As part of the policy to open up the economy, the government implemented the rescue package on Tuesday by easing foreign exchange rules and allowing money exchangers to resume work at open market rates.