Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said US attempts to bring the country's economy down, have failed as the value of the national Iranian currency has bounced back by 40 percent.
Petrochemicals have become Iran's biggest driver of foreign currency income from exports ever since US sanctions limited the OPEC member's crude sales, Oil Minister Bijan Namdar Zanganeh said on Sunday.
The Supreme Council of Economic Coordination decided to extend the authority of the Central Bank of Iran (CBI) for managing the exchange market for the purpose of stability in the foreign currency market.
Iranian and Turkish banks are working on a plan to establish a financial channel between the two countries based on national currencies, in a bid to evade US sanctions against Tehran, Secretary of the Joint Iran-Turkey Economic Commission Bahman Hosseinpour said.
The South Korean won is expected to further advance against the US dollar for some time on what analysts called long-awaited but unanticipated positive developments that helped remove some uncertainties facing Asia's fourth-largest economy.
Iran’s chief banker said the country would stick to its current plans for currency regulation regardless of a European proposal for setting up a credit facility that could help revive a nuclear deal between Tehran and world powers.
The Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said that deleting four zeros from the national currency will have no impact on the inflation rate, adding that the central bank is ready to implement the plan.
The Central Bank of Iran (CBI) announced that a long-anticipated initiative for launching a semiofficial market that could positively impact currency exchanges in the country will take shape next month.