• 8 May 2019 - 14:11
  • News Code: 99740

The Central Bank's governor, advising the public not to enter the currency market by taking into account the political variables, said the Central Bank made predictions about the foreign exchange market and will have the necessary prevention.

According to IBENA, Abdul Nasser Hemati, on the sidelines of today's (Wednesday) session of the government board, told reporters that as the system and the president announced their stance against the JCPOA, a 60-day deadline was given for the parties to take action. This period will pass and we are optimistic.

He said that the Central Bank is always doing its certain actions, adding that the climax that has occurred in the foreign exchange market over the past few weeks is the result of political tensions and he does not see the economic factors have a role.

The chairman of the Money and Credit Council stated: I always advised that the foreign exchange market turmoil is not due to economic factors that has raised the dollar value. In the same vein, political variables may change the market conditions.

The governor of the Central Bank continued: "I have always said that there should be no investment in the foreign exchange market, because the economic factors do not have much role. We hope that what is happening in the foreign exchange market under the title of psychological effects will be minimized."

He advised the people not to enter the currency market, taking into account political variables, saying the Central Bank will make predictions and will have the necessary prevention. This period will pass and we are optimistic about it.

Hemati stressed: The Central Bank does not play a role in political inconsistency and does not create turmoil. There may be agreements and negotiations that are not foreseeable at all. He emphasized: “What I am talking about is the Central Bank's capabilities. We are not supposed to make exchanges unbalanced and unrealistic. When we need to intervene, we will do and the capabilities of the Central Bank are not different from the past.”

In response to the rumor that the government budget deficit is secured by rising dollar value, he said: "This is not the case, if this rumor is right, we should have a massive supply in the market. All efforts of the Central Bank are to create relative stability and prevent severe fluctuations, and this is the most important strategy of the Central Bank."



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