With its foreign exchange package now in full swing, the Central Bank of Iran says it is aiming to expand the influence of newfangled tools in the medium term and establish a formal foreign exchange market that ensures stability in the long run.
Ahmad Araqchi, CBI's foreign exchange deputy, announced on Sunday that the newly-issued foreign currency bonds are meant to "manage the market" and that more bonds will be issued in the future "to move toward a formal foreign exchange market," the bank's website reported.
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