Iran's Central Bank Says First Foreign Exchange Investment Fund Will Start Registration Next Week

Iran's central bank governor Abdolnaser Hemmati said on September 9 that Iran's first foreign exchange investment fund will begin registration next week. Investors will be able to deposit foreign currency directly into the fund without converting it into rials, and when they exit, they will receive the investment value in foreign currency, according to Jiemian News. Hemmati said the fund will finance projects that can generate foreign-exchange income. He also said the rial remains under pressure, with the dollar trading at about 2.28 million rials in the open market.