Iran’s CB says not discomfited by forex volatility

Financial Tribune – The sharp increase in currency rates will not change the Central Bank of Iran’s approach toward the market, the CBI governor said.

Responding to ongoing fluctuations in the forex market, Abdolnasser Hemmati said the CBI will not despair or be pushed into excitement due to the turbulences visiting the already fragile foreign exchange market.

“Some market players are trying to undermine the currency market stability…Our response to market volatilities will be premised on sagacity. We will continue to use our tools wisely to eliminate rent-seeking operations and stabilize the market,” he wrote on his Instagram account.