The actions of the central bank reduced the volatility of the currency market
According to Iran Economist, organizing the foreign exchange market has always been a concern of the Central Bank, and measures have been taken in different periods to achieve this goal. Of course, the results of the measures have not always been acceptable and in many cases, not only has peace not reigned over the market, but the exchange rate, especially the dollar, has been associated with a sharp drop in the past years.
The economic team of the 13th government, headed by the central bank, has been at the top of its programs since the beginning of its activities, and the head of the central bank has repeatedly visited Ferdowsi Square in Tehran, which is the heart of foreign exchange transactions in the country, and has closely observed the flow of transactions and problems. People were placed.
One of the most important actions of the central bank in the past year goes back to the end of June, when the central bank reached the conclusion to organize the currency market in interaction with the center of exchanges, reputable exchanges and exporters, that a supply and demand agreement market should be launched.
“Ali Saleh Abadi”, the head of the central bank on the 1st of July, said: “Fortunately, considering the good situation we have in terms of oil and non-oil exports and the resulting return to the country’s business cycle, the demand for foreign exchange remittances in the system We cover everything.
He continued: Regarding the level of the market, the activists and the money changers expected that we would make it possible to carry out transactions at an agreed rate, which the central bank has concluded since last week in the interaction with the center of exchanges and reputable exchanges and exporters, that the agreed supply market and launch the demand for currency. Based on this, since last week, the possibility of currency exchange transactions was provided in the exchange and this possibility was provided in the organized currency market.
Saleh Abadi added: Considering the facilitation of the currency supply process and the acceptance of a large number of exporters to supply currency in this way, the depth of this market will naturally increase and it is expected that the market will calm down and the prices will be balanced.
The Governor of the Central Bank noted: With the depth of this market, it can properly cover the real demands that exist in the market and play a significant role in the balance and peace of the currency market.
Now that 45 days have passed since the establishment of the agreed market of supply and demand of currency, surveys show that calm has reigned in this market and we are no longer witnessing sharp fluctuations in exchange rates.
In agreed currency transactions, exporters offer their currencies to applicants at an agreed price, and a large amount of demand has moved from informal markets to official exchanges.
“Kamran Soltanizadeh”, a member of the Supreme Council of the Association of Exchangers, in a conversation with Iran Economist regarding the state of the foreign exchange market after the agreed transactions, stated: The Central Bank’s actions in the past two months by launching agreed transactions and the approach of the desired rate of exporters in the sale of foreign currency have reduced the turbulence in It became a market.
He added: With the launch of agreed transactions, the supply of currency in the exchanges increased, and as a result, the currency needs of the compatriots are met in the exchanges.
A member of the Supreme Council of the Association of Exchangers said: With the increase in the supply of currency in the exchanges, a huge amount of demand from informal markets moved to official exchanges.
He expressed his hope that with the increase in the number of currencies offered in this market and their variety, we will witness good events in the market.