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12Apr 2018

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 […]

11Apr 2018

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 […]

11Apr 2018

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 […]

10Apr 2018

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 […]

10Apr 2018

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 […]

10Apr 2018

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). […]

09Apr 2018

Market News – Following the USD/IRR sudden jump surpassing the IRR 50,000 threshold, members of Iranian parliament criticized Iran Central Bank’s  performance in managing the fluctuations and started to prepare a solution to establish calmness in the market. To this end, a meeting is planned between CBI officials and the Majlis Economic Commission members; in case the meeting fails […]

09Apr 2018

Foreign exchange rates continued to surge in Tehran’s market amid confusion about the causes of the rally, as both Economy Minister Masoud Karbasian and Governor of the Central Bank of Iran Valiollah Seif are set to appear before lawmakers to explain the situation. According to reports from local news websites, the US dollar surged ahead […]

09Apr 2018

The Central Bank of Iran allocated $48 billion in hard currency for imports during the last fiscal year that ended on March 20, 2018, according to its governor, who put it down to new openings in banking ties with other countries. “CBI allocated $48 billion for import of goods and services during the previous year, […]

08Apr 2018

With the US dollar’s exchange rate remaining above the psychological threshold of 50,000 rials in Tehran’s market, lawmakers frustrated with the performance of the Central Bank of Iran in managing the volatility are considering a roadmap of their own to restore calm to the market. According to Chairman of Majlis Economic Commission Mohammad Reza Pour-Ebrahimi, […]