Official Rate of Rial Not to Be Changed Next Year
February 14, 1999 - 0:0
CHABAHAR, Sistan-Baluchestan Prov. The Central Bank of Iran's Governor Mohsen Nourbakhsh said here yesterday that the official rate of rial will not be changed in next Iranian calendar year, starting March 21, 99. The government has kept so far the three official exchange rates of Rls.1,750 for state transactions, Rls. 3,000 for the state-licensed exporters and Rls.5,700 for authorized travellers who take trip abroad.
Nourbakhsh said that the country's total outstanding foreign debts stands at 12 billion dollars. He underlined that the debts will be repaid in coming years. As for fluctuation of foreign exchange rates, the official said the fluctuation stems from the change in supply and increase in demands for hard currencies. Nourbakhsh noted that during the new year holidays (starting on March 20) different organizations will joint hand to curb the increasing demands for foreign currencies.
Referring to the country's free trade zones, he said at present the infrastructure facilities are to be installed in the zones paving the ground for operation and investment by foreign banks there. He visited Chabahar Free Trade Zone's (CFTZ) installations and termed as positive the effects of the CFTZ on the region. Nourbakhsh said that plans are underway the encourage tourist to further visit the Iranian free trade zones instead travelling abroad for vacation trips.
Nourbakhsh said that the country's total outstanding foreign debts stands at 12 billion dollars. He underlined that the debts will be repaid in coming years. As for fluctuation of foreign exchange rates, the official said the fluctuation stems from the change in supply and increase in demands for hard currencies. Nourbakhsh noted that during the new year holidays (starting on March 20) different organizations will joint hand to curb the increasing demands for foreign currencies.
Referring to the country's free trade zones, he said at present the infrastructure facilities are to be installed in the zones paving the ground for operation and investment by foreign banks there. He visited Chabahar Free Trade Zone's (CFTZ) installations and termed as positive the effects of the CFTZ on the region. Nourbakhsh said that plans are underway the encourage tourist to further visit the Iranian free trade zones instead travelling abroad for vacation trips.