Iran's Regulated Forex Market to Open in Mid-April

The governor of the Central Bank of Iran said Sunday that the long-awaited Regulated Foreign Exchange Market will be launched by mid-April.

Financial Tribune- Rules for launching the first-ever forex market in Iran were approved in January by the Money and Credit Council - a top financial decision-making body headed by the CBI boss Abdolnaser Hemmati.
The move is seen as another CBI measure to regulate the chaotic forex market dominated by informal traders. It seeks to create and organize a transparent market where foreign currency will be traded in cash through an electronic platform in the framework of MCC regulations.

Publish Date: Apr 8, 2019