Rial regaining value against foreign currencies: CBI governor

The CBI governor made the remarks after a meeting with economy commission of the Iranian Parliament on Sunday, during which important issues relevant to monetary and currency policies were discussed and some explanations were offered to the members of the commission, according to Hemmati.

“A sum of around $1.3 billion has been distributed in the secondary currency market by non-oil goods exporters and on average each euro is equal to around 90,000 rials and the currency at this rate has been given to importers,” said Hemmati.

The official maintained that in the past month the government has offered $1.1 billion at a much cheaper rate of 42,000 rials each to those who are importing basic necessary goods like medicine.

He added that the central government has strengthened its foreign exchange reserves in the past month and reassured that the central government will not let the foreign exchange reserves fall in size.

He further stressed that the national currency will gradually regain its value.