• 25 August 2019 - 09:10
  • News Code: 103406
همتی

Governor of Central Bank of Iran (CBI) reiterated on the stability of the currency market that affects other markets, leading to lower inflation.

“Market stability does not mean lower prices for all goods and pulling all the pressure off the middle and lower class people, but shows the failure for the American “maximum pressure” campaign.” Abdolnaser Hemmati said.

The official further noted that the domestic production campaign in Iran has been successful over the past six months and data gathered by CBI shows that the trend continues.

“Efforts are on the way to increase Foreign exchange earnings from oil and petroleum products export and more important non-oil exports.” He said.

According to Hemmati,” some countries have tried to compensate their mistakes in accompanying the sanctions and so they are bringing some proposals to gain Iran’s satisfaction and that’s because they have got Iranian people’s signal in resisting the sanctions. “

In recent months, the value of Iranian rial has been recovering against the U.S. dollar as the CBI policies for shielding the currency against the U.S. sanctions took effect.

The central bank sought ways to protect the currency with measures that include setting up a government-run foreign-exchange platform known as NIMA to quell the black market and controlling interest rates offered by lenders.

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