Central Bank of Iran Governor says Forex rates to keep going down

IRNA – Governor of Central Bank of Iran Abdolnasser Hemmati said on Sunday that stability and balance of supply and demand are prevailing over the markets and that foreign exchange rates will keep going down.

Speaking at the eighth periodical meeting with economists, Abdolnasser Hemmati said that the pressure of the sanctions has caused no impediments for non-oil exports, which is smoothly in progress, adding that the integrated Forex platform known as NIMA has been regulatory mechanism to make available foreign currencies coming from non-oil exports by the private sector.

Hemmati said that in the first eight months of the Iranian year (starting on March 21), the non-oil export has increased in weight.

Referring to the psychological atmosphere in Forex market in the past few weeks, he said that the CBI could manage to bring back stability and balance to the market.

The eighth meeting of economists was held to discuss wide-range of issues consistent with stability of Forex, control and guidance of liquidity, inflation envisaged by the next year’s budget plan.