CBI governor: Calm will return to currency market

Tehran, Nov 30, IRNA – Governor of the Central Bank of Iran (CBI) Valiollah Seif said here on Sunday that soon a balance will be established in the currency market.
  Commenting on the rise in the value of foreign currencies against rial in recent days, Seif said fundamental factors are present in the currency market and supply and demand.

He said the forex market had been affected by certain news in recent days, adding that the situation will return to normal soon.

As for fluctuations in the capital market he said with regard to the decisions of stock exchange officials conditions in this sector will be again as such that stock index will return to the logical and balanced condition.

Stressing that today advantage should be taken from every moment, he said since predictions over nuclear talks are positive banks should get prepared for this period.

Noting that there is a serious determination in both sides to finalize the talks, he said the talks could have been delayed more but on the basis of the emphasis access to the talks is not beyond expectations and will happen within the seven months period.

He said economic condition of the country is stable now although there are fluctuations in some sectors but stable foundations have been created in the country’s economy.

Seif further remarked that given that the nuclear talks have taken a positive course the banking system should get prepared for the establishment of international communications in a sound manner so that banks will be able to cope with modernity affairs.

Referring to his recent meeting with managing directors of the banks on bank interest, he said banks should not allow the market move ahead of logic, adding that banks should control the situation and manage it.

“The Central Bank in its orientations has obtained good achievements and has made planning for basic developments.”

He stressed that banks should move towards mechanization and by offering Internet services which will have positive consequences such as reduction of costs and offering of suitable services, get prepared for rendering better services.



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