Financial Tribune - Since the beginning of the current fiscal year (March 20), more than 10.6 billion earned from exporting non-oil goods has been sold through the Central Bank of Iran's secondary forex market, known locally as Nima. According to the platform's website, importers also bought 8.69 billion worth of foreign currencies from the secondary ...

MNA The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati announced that the central bank is not intended to omit Iran's domestic Foreign Exchange Management Integrated System (locally known as NIMA) from domestic forex trade market. Calling NIMA the pivot of domestic forex transactions, Hemmati underlined that the system will not be ...

Financial Tribune - Since the beginning of the current fiscal (March 21) over 2.2 billion has been sold via the Integrated Forex Deal System, locally known as Nima, the Central Bank of Iran reported. Nima is a platform where exporters sell currency earnings at prices lower than open market rates and companies buy it for importing machinery, equipment ...

Financial Tribune - After small gains in Saturdays trades, the Tehran Stock Exchange continued to rally on Sunday to break another record amid excessive demand for both small and big shares mainly in metal and refinery products. The TSEs main index, TEDPIX, rose 3,956 points to end trading day at 209,243 points on Sunday. The market was boosted ...

Financial Tribune - The acting head of Trade Promotion Organization of Iran says $46 billion in foreign currency has been allocated for imports in the current fiscal. Of this $24 billion was allocated by banks and $10.5 via Nima (integrated forex rate system). Mohammadreza Modoudi said in the outgoing fiscal (March 2018-19), the volume of orders ...

Financial Tribune - Where oversight mechanisms cannot be enforced by the government, allocating subsidized currency will not help but hinder because the end consumer ultimately buys (essential) goods at open market rates Head of the Plan and Budget Organization says the government is weighing three options on allocating $14 billion for importing ...

Financial Tribune - The governor of Central Bank of Iran says the CBI has so far allocated $38 billion in foreign currency for imports. Out of this amount, $9.3 billion was allocated via Nima (the integrated forex deal system) and $24 billion was injected directly into the banking system. Abdolnaser Hemmati said close to 11.5 billion was traded ...

Financial Tribune - In a highly anticipated parliamentary decision on Saturday, lawmakers ratified an amendment to the next years (March 2019-20) budget bill which obliges government to allocate $14 billion subsidized foreign exchange in the form of "electronic coupon." As per the amendment, the government is obliged to allocate $14 billion from ...

Financial Tribune - In a bid to encourage companies to return their export earnings to the country, the Central Bank of Iran has offered a new incentive package. Depending on the exporters earnings and their performance, the incentive involves allowing them to sell a portion of their forex to exchange bureaux in cash or hawala instead of selling ...

Financial Tribune - In its latest directive, the Central Bank of Iran, on Tuesday urged exporters to return their export earnings to "the country's economic cycle'' as their three-month deadline comes to an end. The CBI had initially demanded that exporters bring their overseas earnings to the country on September 11 after the measure was approved ...

Bourse and Bazaar | Esfandyar Batmanghelidj: The bulk carrier ADA left Santos, Brazil on October 2, laden with 23 tons of maize. The Cypriot ship was charted by Cofco, Chinas largest agribusiness firm and a global leader in commodities trading, to deliver its cargo to Iran. On November 8, ADA arrived at the anchorage for Bandar Imam Khomeini,...