The Iran Project

Iran’s CB solicits help from moneychangers to restore calm to currency market

The building of Central Bank of Iran (CBI)

Financial Tribune – Fluctuations in forex market in recent months have compelled the Central Bank of Iran to seek help from authorized exchange bureaus to restore stability to the chaotic market.

Outlining the results of meetings with CBI officials, the Association of Bureaux de Change Operators of Iran said Thursday that they had made “decisions to boost the market and ease concerns about currency volatility” and draw on the ability of authorized moneychangers to achieve the desired results.

One measure says the CBI will cooperate directly with moneychangers to improve currency allocation to applicants in the secondary market, locally known as Nima, according to a notice posted on the association’s website.

“Henceforth, moneychangers will be more responsive to the demand for currency”.

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