NO. 39


Financial and Banking News

Financial Policy

Iran Plans Further Exchange Reform, but Task Ahead Is Daunting

Iran's Central Bank Governor, Mr. Mohammad Hossein Adeli, has given a clearindication that further reform of his country's multiple exchange rate system isimminent. Speaking in Mashad on 27 June, Mr. Adeli said that gold would nolonger be considered the guarantor of the Iranian riyal's value, and that infuture it would be backed by local production. Adeli did not...