Iranian Central Bank Intervenes in Dollars

Iranian Central Bank Intervenes in Dollars

After the dollar rose to 20 thousand divisions in Iran, the highest in history, the Iranian Central Bank took action to stop the rise. Having increased its deposit interest by 200 basis points, the Central Bank of Iran increased the rate to 12 percent. In a written statement made by the Central Bank of Iran, it was reported that after the meeting organized by the Central Bank's Board of Directors, some decisions were taken in accordance with the law to protect the local currency and provide economic development. The statement said that the new decision will come into force on Saturday, June 27. Iran Central Bank Board of Directors made some decisions at its meeting on May 30. These decisions are 10 percent of the deposit interest; The loan interest received from the Central Bank of Iran included the determination of 22 percent. The division, which had reached the level of 20 thousand divisions before the decision, showed a downward trend after the step taken by the Iranian Central Bank and declined to the level of 19 thousand 700 divisions.