I have repeatedly emphasized that the Central Bank is committed to maintaining the relative stability of the currency market and maintaining the competitiveness of the economy. Abdolnaser Hemmati the Governor of the Central Bank of Iran wrote on his account on Instagram.
“In my view, the key to maintaining stability in this market, and consequently in other markets, is to pay attention to market fundamentals alongside a strong marketer presence to prevent speculation and volatility in this market” he added.
“What is happening these days is also due to the performance of some exporters, who are struggling to convert their currency at higher rates, sometimes due to the psychological atmosphere caused by the aftermath of rising gas prices and also due to the start of trading accounts with foreigners at the end of the year” Hemmatti wrote.
The Governor of the Central Bank of Iran emphasized: “For this reason, despite the announcement of unrealistic rates, there is no demand for even lower rates in the currency exchange market. The Central Bank, with its strong presence in the foreign exchange market, removes the cross-sectional imbalances and returns the balance to the exchange market based on real variables like what it does in the money market”.
