Iran currency market in check

Financial Tribune – Despite apprehensions that currency rates would soar after US announcement on Monday that it was ending sanction waivers on Iran oil importers, the forex market response to the news remains lukewarm.

The governor of the Central Bank of Iran, Abdolnasser Hemmati, wrote in an Instagram post Wednesday that the “delusion” of price shock in the forex market following the US decision faded away, thanks to CBI measures.

Currency rates rose slightly a day after the anticipated announcement when the dollar briefly touched the resistance level of 140,000 rials, up from 137,000 rials on Sunday.