Iran authorizes central financial institution to intervene in overseas trade market: state TV


© Reuters. A vendor inspects Iranian rials at a currency exchange shop in Baghdad

DUBAI (Reuters) – Iran on Saturday authorized the central bank to intervene in the foreign exchange market, state television reported, after its rial currency fell to repeated record lows in recent weeks following the reimposition of U.S. sanctions.

A top government body, headed by President Hassan Rouhani and the heads of parliament and the judiciary, “gave the central bank governor the necessary authority to intervene in the foreign exchange market and to manage it”, state TV said.

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