CBI reports measures taken for controlling forex market to top authorities

MNA – The Central Bank of Iran (CBI) reported the measures it has taken so far for controlling foreign exchange market to the Supreme Council of Economic Coordination, chaired by President Rouhani.

The Supreme Council of Economic Coordination convened on Sunday in a session that was chaired by President Rouhani, with heads of judiciary and parliament taking part, according to the official website of Iranian Presidency.

At the session, the Central Bank of Iran (CBI) reported on measures taken for managing and controlling the money and foreign exchange market, making suggestions for increasing discipline and strengthening credit institutes in the country.

The council also made decisions for supplying the credits needed by the medicine and health sectors.

While in early autumn, the price of each US dollar had risen to more than 190,000 rials (Iranian national currency), through the measures taken by the CBI, the price has recently gone down to 100,000 rials, indicating that the rial has rebounded more than 40%.

The recovery has been attributed to new CBI’s forex policies and restrictions on banking transactions and purchases of dollars as well as a ban on money send-outs by unauthorized foreign exchange shops.