Iran to launch organized FOREX market

Iran to launch organized FOREX market this week

Farhad Dejpasand (Iranian finance and economic affairs minister )said the mentioned market is due to set the real foreign currency exchange rates. Establishment of this market has been approved by the Money and Credit Council (MCC), the highest banking policy-making body of the Central Bank of Iran (CBI), on January 8 as the CBI aims to explore the real volume of demand and supply in the foreign currency market through a new mechanism. Regarding this market, a CBI official said on May 5 that the new mechanism aims to organize the transactions in the foreign currency exchange market between the exchange shops.