As Iran moves to unify its exchange rates, the government has announced new policies that give the banking system the prime role in the foreign exchange market. According to measures decided at the Cabinet meeting late Wednesday, all purchase orders (for imports ), including those at free trade zones and special economic zones, will have […]

Market News – The 11th Iran FINEX (financial exhibition) is to take place from tomorrow until Thursday, Mar 19, 2018, on Tehran International exhibition premises with the participation of 392 domestic and foreign finance-related firms. Big international names like EY, Capital Intelligence, Incentage and Alpari group are to not only have booths in Iran FINEX but also carry out educational workshops for […]

Atotal of 213 mutual and exchange-traded funds in Iran’s capital market posted an average return of 17.5% during the previous fiscal year (March 2017-18), data released by Financial Information Processing of Iran showed. This is while Tehran stocks registered a 25% growth during the same period. Tehran Stock Exchange’s main index TEDPIX scored 19,060 points […]

Governor of the Central Bank of Iran Valiollah Seif said the drastic decision by the government to unify the US dollar’s rate does not mean that a fixed exchange rate system would be at work, as the rate would “fluctuate with market mechanisms”. Seif said during a TV interview late Tuesday that the exchange rate […]

Minister of Industries, Mining and Trade Mohammad Shariatmadari said since most of Iran’s trade is conducted in euro, the country is prepared to make a shift toward the European currency. Shariatmadari added that most of the country’s trade has to do with oil, revenues of which come in dollars, euros and the currency of the […]

Market News – After the other day’s news on USD/IRR Unification, the Central Bank of Iran changed the scheme of Iranian gold coin pre-sales. Following the administration’s decision to return stability to currency and gold markets, CBI’s chair announced that the pre-sale of “Bahar Azadi” coins shall be in line with the following table: Moreover, just a day after president Rouhani’s hard […]

Bank Melli Iran, the nation’s biggest bank, is set to issue its first-ever housing bonds soon and experts believe that will lead to a drop in the price of bonds in the over-the-counter Fara Iran Bourse. In early January, BMI announced that it has launched a housing savings account, meaning that it has effectively become […]

Iran’s government decided to finally put an end to the dual foreign exchange regime, in an attempt to control the bullish foreign exchange and gold markets and promote safety of foreign investments. The decision was made during an emergency meeting presided by President Hassan Rouhani on late Monday after the US dollar and almost all […]

Following the signing of a short-term refinance deal, the Europaisch-Iranische Handelsbank AG has allocated a €30 million credit line to the Export Development Bank of Iran. This was announced by EDBI’s director of international affairs who explained that the credit line has been allocated to finance imports of goods and services. “The bank’s customers can […]

Market News – In a bold and rather sudden announcement, Eshaq Jahangiri, the vice president of Rouhani administration, spoke of a unified USD/IRR rate of 42,000 from today on for all economy participants. Following a late night meeting, it seems that the Iranian government finally unified the FX and are to consider trades with other rates as illegal (smuggling). […]