IRNA - Iranian President Hassan Rouhani said on Sunday that the Government is determined to create a balance in terms of satisfactory supply of the fundamental needs of the people and thwart all pressures imposed by the enemies as well. The government will keep the forex market in balance, President Rouhani said at an economic session with participation ...

Financial Tribune - After a brief hiatus major currencies resumed rallies going back to their bad old ways in Tehran on Wednesday as CBIs selected moneychangers demanded higher rates. The US dollar rose to 224,000 rials in the free market, up approximately 5,000 rials compared to a session earlier to grab 2.3% gain overnight. Euro hiked about 1....

financial Tribune - Major currencies on Thursday hit the highest rates since September 2018 with the dollar traded at 180,000 rials in Tehrans open market. One euro fetched 203,000 rials and the UK pound sterling 226,000 rials. Following similar trends in the open market, moneychangers affiliated to the Central Bank of Iran also increased their ...

IRNA Central Bank of Iran (CBI) Governor Abdolnasser Hemmati said on Tuesday that the CBI forex reserves are satisfactory and at a very good level. Hemmati made the remarks in an open session of Parliament which reviewed the countrys major economic indicators. The sanctions imposed on Iran over the past two years were smart and unprecedented,...

Financial Tribune - Exporters of non-oil goods sold 16 billion ($17.8 billion) in their overseas revenues on the secondary foreign exchange market, known as Nima, since the beginning of the current fiscal year that ends on March 19. This market is a platform affiliated to the Central Bank of Iran where importers declare their currency needs, exporters ...

Financial Tribune - Foreign currency and gold coin prices increased in Tehran on Wednesday ostensibly influenced by the upcoming meeting of Financial Action Task Force on Feb 21. Moneychangers in Tehran sold the dollar for 139,500 rials, 1,500 rials higher than the close of the previous session. Euro was priced 151,080 rials -- slightly lower than ...

IRNA Governor of Central Bank of Iran Abdolnasser Hemmati said on Sunday that stability and balance of supply and demand are prevailing over the markets and that foreign exchange rates will keep going down. Speaking at the eighth periodical meeting with economists, Abdolnasser Hemmati said that the pressure of the sanctions has caused no impediments ...

Financial Tribune - Despite persistent calls by economic experts and academia on the government to scrap subsidized currency allocations, it appears that the controversial forex policy to pay for importing basic goods, will be sustained in next years budget (March 2020-21). Mohamadbaqer Nowbakhat, head of the Plan and Budget Organization, made the ...

Financial Tribune - The Central Bank of Iran has developed a new platform, Diba, to supervise open banking operations, says Aboutaleb Najafi, CEO of Informatics Services Corporation, noting that regulated forex market is also planned to function on this platform. "Diba is a regulatory platform like Shaparak, which was developed to regulate the operation ...

Financial Tribune - Except for brief volatility in the first weeks of the new fiscal year (started March 2019), the currency market has seen relatively stability throughout the year. The Central Bank of Iran on several occasions has taken the credit for maintaining the stability by what it says is through balancing demand and supply. Despite ...

IRNA Governor of Central Bank of Iran Abdul Nasser Hemmati stated that Iran is in a good place with regard to forex reserves. Speaking on the sidelines of government weekly session, Hemmati went on to say that the same trend of inflation reduction that Iran has had over past months will also continue in the future and "we will do better with the ...

Financial Tribune - Currency rates in Tehrans market have been rising since last week after more than three months of relative calm. The US dollar changed hands for about 116,500 rials on Thursday, up 40,000 rials, or 3.5%, compared to prices a week earlier. One euro was sold for 127,500 rials and the pound sterling was worth 150,500 rials. Rates ...

Financial Tribune - Sailing in calm waters since the beginning of the calendar year (mid-March), the currency market witnessed another fall at the start of the business week in Tehran on Saturday. On Monday the US dollar was sold for 112,000 rials at 4:00 pm local time, down 2.6% compared to Sundays close. The greenback was worth 116,000 rials on ...

MNA The Governor of the Central Bank of Iran (CBI) said on Wednesday that official inauguration of integrated forex market is postponed since some of the Iranian banks and foreign exchange shops have not been able to install the required software by the set deadline. Abdolnasser Hemmati, on the sidelines of Cabinet meeting, also addressed the governments ...

MNA Central Bank of Irans forex market will be inaugurated later than the predetermined date i.e. August 12, 2019, an official from the central bank (CBI) said on Monday. Informing that the decision has been made under the direct order of the governor of the CBI, the official added that performing the required experimental tests have been commenced....

MNA The Central Bank of Iran is planning to launch the Integrated Forex Deals System (Persian acronym for Nima) by mid-August. In a meeting held between CBI Governor Abdolnasser Hemmati and the head of the integrated forex market, Mahmoud Shekasteband, on Saturday, the top officials reviewed the latest developments regarding the implementation ...

Tehran Times - Central Bank of Iran (CBI) announced that launching integrated forex market in the country is in the last stages, IRIB reported. In a statement, the CBIs office of public relations also denied the news about launching this market on Monday. While dismissing the news published by some websites about pre-determined rates in this ...

Financial Tribune - The Association of Bureaux de Change Operators of Iran will hold a briefing on Wednesday for members of the regulated foreign exchange market scheduled to be launched in the near future. In an invitation the association called on managers of exchange bureaus to participant in the meeting that will be attended by the board of ...

Financial Tribune - The parliament plans to investigate the foreign exchange policy of the Central Bank of Iran during the last fiscal year that ended in March, says head of the Majlis Economic Commission. Mohammadreza Pourebrahimi spoke of $3.5 billion worth of subsidized currency allocated for importing essential goods last year, saying it is ...

Financial Tribune - Currency rates continued to descend in markets across the country on Wednesday as businesses took some relief from weeks of political bickering in the region.curre The USD fetched 136,000 rials, down 2, 000 rials compared to Tuesday's close. The euro also fell 2.3% and was exchanged for 153,000 rials. Easing of the mounting ...