20 positive actions of the central bank to manage the foreign exchange market
The Governor General of the Central Bank on Friday, Azar 25, mentioned some measures of this bank to manage the foreign exchange market, on the same pretext, 20 positive measures of the Central Bank in recent months are mentioned in this regard:
1- The supply of new design coins in the symbol of the new welfare design coin from Central Bank sources in order to reduce the coin bubble of about 50,000 coins.
2- Issuance of central bank coin bonds in the commodity exchange under the symbol of the predecessor of all central coins (central coin) without tax and in order to manage the demand in the gold and coin market, about 120 thousand coins
3- Issuance of Central Bank foreign currency certificates from 25/08/1401 with a maturity of three months and without tax in order to manage the foreign exchange market and prevent liquidity from being diverted to the informal market. So far, about 1,400,000 dollars have been purchased by people.
4- Launching the sale of banknotes through selected foreign exchange branches of banks with the aim of strengthening the supply of banknotes in about 200 bank branches. Since November 16, about 35 million dollars have been sold to people in the banking network.
5- A 64% increase in the supply of foreign currency of the central bank and other exporters in the NIMA system, with the aim of covering the import demand of basic goods, medicine, medical equipment, essential goods, raw materials of production, machinery and other items needed by the country.
6- Strengthening the supply of banknotes through the market consisting of foreign exchange transactions in order to cover the needs of service and non-commercial foreign exchange expenses.
7- Blocking the bank accounts of the main branches and currency brokers and tomorrow traders who were trying to create demand for currency through networking.
8- Identifying the network of brokers and effective exchanges in the informal market with the cooperation of regulators.
9- Setting up an online queuing system for the sale of currency in exchange offices in order to organize the sale of currency in exchange offices and eliminate crowding and queues in exchange offices.
10- Increasing the sale of currency notes to merchants up to 6,000 euros
11- Exchange of foreign currency remittances of agricultural, handicraft and knowledge-based exporters with currency notes to strengthen the supply of foreign currency and support the export of these sectors.
12- Increasing the limit of foreign exchange transfers from 5 to 30 million euros for the import of basic goods
13- Reducing the allocation of currency for basic goods and medicines from 30 days to 48 hours
14- Creation of oil and medicine clearing mechanism
15- Provision of currency for basic goods ($4 billion)
16- Diversification of the Central Bank’s currency portfolio
17- Access to foreign exchange reserves of China and Oman
18- Establishing monetary and banking exchanges with Russia
19- Action to create bilateral agreements (Russia, Armenia, Belarus, etc.)
20. Formation of a joint committee of the Ministry of Oil, the Ministry of Security and the Central Bank to coordinate the country’s currency map and trade map in order to facilitate foreign exchange needs for imports.
Ibena