Central Bank: The exchange rate of the exchange center becomes the reference rate – rahnam

According to rahnam news agency, Mohammad Shirijian, the economic vice president of the Central Bank, referring to the effect of Iran’s currency and gold exchange center on the stability of the foreign exchange market, said: “We are looking to institutionalize Iran’s exchange center as a transparent market in the economy, and its rate as well.” have authority When the main needs of the foreign exchange market are provided by this center, it will naturally help this center gain authority, because it often provides the macro and micro needs of consumers.

Referring to the finalization of the new law of the central bank, he said: The new law of the central bank was written in such a way that the powers of this policy-making body in reforming the banking system are increased and it has given better and more effective tools to the central bank, especially in the category of reforming the banking system. As a result, the central bank can continue this important issue with more power. In this law, a new deputy of monetary policy has been created so that the so-called island position that we had regarding monetary, currency and credit policies, which were separate from each other, can be examined with a single look.

Stating that the field of the Supreme Council will manage issues and make decisions with a more sovereign perspective, Shirijian continued: The Supreme Council consists of three policy-making bodies of the country, including the Program and Budget Organization, the Ministry of Economy and the Central Bank. Four independent experts, two of whom have experience in the economic field and two in the banking field, as well as two deputies of monetary policy and regulation and supervision are present in this board.

The economic vice president of the Central Bank stated: The presence of the high board has made this department, which is the former Money and Credit Council, examine more governance and policy-making issues and not be affected by sectoral views. Therefore, from this point of view, it has helped the central bank’s independence as a monetary policy authority.

Shirijian stated: The new law has seen the field of monetary policy from the perspective of an institutional structure and has formulated better and more specific powers and duties in this field. Also, the new law in the field of reforming the banking system has provided wider and more effective tools for the central bank.

Emphasizing that the issue of bank disequilibrium was not created overnight, he said: The disequilibrium of banks is caused by a series of structural imbalances that the banking system has, which, of course, is caused by many factors of economic conditions. However, the new law of the central bank will help the process of reforming the banking system to proceed with greater strength and speed.

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