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Legal Matters

Forex market developments irrelevant to economic realities

Tehran, Central Bank of Iran (CBI) said in a statement on Sunday that recent developments in foreign exchange and gold markets have nothing to do with economic realities and the country's currency strength.

The statement asserted that based on its legal and inherent duty, CBI is closely monitoring developments in the currency market manly rooted in the enemies' plots to create tension in the country's economy and take away psychological tranquility from the public.

CBI is currently engaged in devising proper programs and new approaches in the face of the current economic crisis.

Cabinet appointed Abdolnasser Hemmati as the new governor of CBI on July 25.

Addressing his inauguration ceremony on Saturday, he reiterated that Central Bank is the pillar of the country's economy, saying that promoting the economy's strength against the enemies' pressures is essential.

Enemies are out to destroy the country's assets and instill disappointment in public through sanctions, he said, hoping that the threats would bring about reforms in the country's banking system.

Hemmati further noted that he will make efforts to maintain national currency's strength as well as the CBI credibility during his mission.

Source: Islamic Republic News Agency - IRNA

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