Financial Tribune - Governor of the Central Bank of Iran says removing four zeros from the rial is one necessity of the monetary system and postponing it to the future will not help. Addressing the mounting skepticism surrounding the wisdom and viability of the government plan for redenomination of the rial under the present economic conditions,...

Radio Farda - Irans battered currency took another significant dive on Sunday against major currencies, breaching the 150,000 rial to the dollar threshold. The currency was trading at around 138,000 to the dollar in the past two weeks. The rial gained back some ground later in the day, but usually devaluations in Iran happen first with thresholds ...

MNA In April 2018, the Central Bank of Iran banned domestic banks and people from dealing in foreign cryptocurrency because of money laundering and financing risks. However, the CBI decided to take a more moderate stance toward the digital money and blockchain technology following the imposition of a new round of US sanctions, hoping that the digital ...

MNA Minister of Industry, Mine and Trade Reza Rahmani said that role of Iranian rial would be strengthened in financial exchanges with many countries in the world and this issue is of the main macro policies of the government that should be taken into serious consideration. He made the above remark late on Monday among industrialists in Gamishan,...

IRNA Iran's decision to slash four zeros from its currency will improve the economic situation in the country and gain more credibility for the currency on the international scene, a Spanish News Agency has reported. According to a Friday report by EFE, the idea to delete zeros from the bills in Iran was suggested a long time ago, but the depreciation ...

Bloomberg - Irans reshuffled economics team is trying a new tactic to defend the rial against U.S. sanctions -- ordering exporters to sell their foreign-currency earnings on a government-regulated trading platform. The directive to use the online platform is meant to steer more foreign currency into the system, thus aiding government efforts to ...

Tasnim The central banks of Iran and Iraq are finalizing negotiations to begin trade in their own currencies, chairman of Iran-Iraq Chamber of Commerce said. Speaking to Tasnim, Yahya Ale-Eshaq said negotiations between the central banks of Iran and Iraq are under way to reach an agreement on using rial and dinar in bilateral trade. Once finalized,...

MNA The Iranian Oil Minister Bijan Namdar Zanganeh said Sun. that oil will probably be offered via stock exchange in Iranian national currency, rial. The Iranian Oil Minister Bijan Namdar Zanganeh said Sunday that oil has been offered via Iranian stock exchange twice so far and the amounts that were offered were one million barrels each ...

Al-Monitor | Navid Kalhor: The money supply in the Iranian economyexceeds$355 billionat theofficial exchange rate, remarkably surpassing total economic output of $331 billion.Financial depth, a metric showing the ratio of liquidity to gross domestic product, is commonly indicative of the state of a given economy. But financial depth can be too high;...

Bloomberg | Golnar Motevalli: The Iranian rial hit a record low against the U.S. dollar for the second time in two months over concerns about Irans economy, rattling businesses and prompting some currency dealers to suspend trading. The rial fell to a record low of 57,000 against the dollar by late afternoon on the unregulated currency market, according ...

Bloomberg | Ladane Nasseriand Golnar Motevalli: Iranian authorities closed almost a dozen currency-exchange offices and arrested traders, part of an effort to stem a fall in the value of the rial that could push up prices at a time of growing discontent. The rial weakened to 49,580 to the dollar in unregulated trading on Tuesday, according to state-...

Al-Monitor | Bijan Khajehpour: A recent devaluation of the rial on the so-called free market in Iran has raised concerns that the countrys economy will experience another collapse of the value of itsnational currencysimilar to what happened in 2012.The free market rate of the US dollar surpassed the psychological mark of 40,000 rials in early October....

MNA Central Bank Governor Valiollah Seif has said dropping few zeros from banknotes will be possible only after 2 years. Mr. Seif said the current budget had not allocated any sum for zero-dropping scheme which had haunted many in the community of economic analysts as the panacea for economic woes and depreciation; Central Bank has sent a proposal ...

Financial Tribune- The end of the current Iranian year in March will bring about an end to currency fluctuations plaguing the market, as increased supply helps moderate the market, predicts the director of the Central Bank of Iran's Exports Department. "We forecast that currency fluctuations in the market will be curbed by the yearend. Considering ...

Russian banks are welcome in Iran, where the Russian-Iranian Chamber of Commerce is actively working on opening a joint Russian-Iranian bank, Bahram Amirahmadiyan of the Russia-Iran Friendship Society told Sputnik Persian. Last week the Russian newspaper Izvestiya reported that Russian banks are atthe front ofthe queue toenter Iran's banking sector ...

Jan 27 (Reuters) - Russia and Iran plan to create a mutual account for bilateral payments in national currencies, RIA news agency quoted Mehdi Sanaei, Iran's ambassador to Moscow, as saying. "Both sides plan to create a mutual bank or a mutual account to make payments in rials and roubles possible," the ambassador said. By Reuters   The ...

AFP -The Iranian rial has strengthened by more than 15 percent against the dollar since the victory of moderate Hassan Rowhani who was elected president more than a week ago, reports said on Sunday. The Iranian currency was trading at under 30,000 to the dollar on Sunday morning compared to 35,000 a week ago, media and dealers said. The rial had ...

It seems that fluctuations plaguing Iran's foreign exchange market over the past six month following the imposition of new EU and US sanctions against Tehran have yet failed to cause protests among the majority of Iranian people. The value of Iranian currency, Rial, has gradually decreased after EU and the US imposed new round of unilateral sanctions ...

Iran has sent a high-level delegation, led by top official Ali Shamkhani, to Damascus for talks with Syrias President Assad. Shamkhani has increasingly been used as a political fixer in the Iraqi and Syrian crises. Iranian State media put out Shamkhanis template declarationof cooperation: The principled stance of the Islamic Republic of Iran regarding ...

The Iranian currency appreciated in unregulated trading after the central bank canceled its fixed, subsidized rate for the dollar. The rial strengthened to 33,400 to the dollar at 11 a.m. in Tehran from 33,850 on July 2, marking a 1.3 percent gain, according to rates compiled by Daily Rates For Gold Coins and Foreign Currencies, a Facebook page used ...