Note from the Governor of the Central Bank on the exchange rate trend

According to IBNA, Dr. Hemmati announced in an Instagram note: The central bank’s policy compass is around controlling inflation and helping the country’s economic growth. In this regard, the exchange rate plays an important role as a key macroeconomic variable.

The policy of the Central Bank is based on the fact that the exchange rate should be regulated according to the macroeconomic conditions of the country, including the trend of the value of oil and non-oil exports, foreign balance and prevention of loss of foreign exchange resources.

Resistance to exchange rate depreciation can be understood by those who have foreign exchange. However, the fundamental factors of the market will impose their conditions in any case. In this regard, the hesitation of importers to buy currency in the Nima system is also understandable.

Based on all these factors, and relying on its market power, the central bank monitors the exchange rate movement and manages it based on its set of policy objectives, available resources and tools.

At the request of the government and with the approval of the Supreme Leader, the deadline for reviewing the Palermo and CFT bills in the Expediency Council has been extended. Note that the FATF’s failure to meet its obligations could be an obstacle to the country’s banking system in conducting international banking transactions in the absence of sanctions.