Iran’s minister of communications and information technology has addressed the recent ban on cryptocurrency trade and efforts by the country to develop its own virtual currency. In a talk with IBENA, a news website affiliated with the Central Bank of Iran, published on Friday, ICT Minister Mohammad Javad Azari Jahromi linked the recent cryptocurrency trade […]

Governor of the Central bank of Iran Valiollah Seif has advised foreign currency depositors to be wary of banks’ credibility and behavior when trusting their hard currency with them. Seif referred to CBI’s approved deposit rate for foreign currency deposits which has been set at 5% for dollar deposits and 4% for euro ones and […]

President Hassan Rouhani sought to assure the private sector of the long-term effects of the government’s new foreign exchange policy, saying the measures are aimed at market stability and sustainable economic growth. The president made the remarks during a meeting with the country’s top business figures on Thursday which was the first such one-on-one talks […]

Market News – In its latest reports, the Securities and Exchange Organization of Iran announced the new rules regarding the formation of new Iranian mutual funds. Equity funds’ cap at the time of establishment was set at IRR 5,000 bn (cUSD 119 mn); exceeding this figure requires the passage of 1 year after the fund operation. Balanced […]

Iran’s decision to report foreign currency transactions in euro rather than the US dollar reflects the fact that the bulk of Iran’s foreign trade is with European and Asian countries and that it would be easier for the country, the head of Monetary and Banking Research Institute said. Ali Divandari also told a press conference […]

The government is assessing the effect of unified exchange rates on the country’s exports and imports to find the best strategy for foreign trade, the head of Trade Promotion Organization of Iran told top exporters. Mojtaba Khosrotaj also referred to the government’s decision to impose an exchange rate of 42,000 rials for the US dollar […]

All Iranian banks officially listed in the capital market will devise and present their balance sheets as per the International Financial Reporting Standards, according to the CEO of the state-run Export Development Bank of Iran. “Because the required infrastructures are in place, it is predicted that the banks’ balance sheets will be devised before the […]

When President Hassan Rouhani’s administration decided to unify Iran’s dual foreign exchange rate regime to prevent further depreciation of its currency on April 9, part of its market control process translated into a measure that has prompted mixed response from the private sector. One of the 16 measures approved by the Cabinet following the forex […]

Market News – According to SEO brokerages’ trades stats over Farvardin month (March-April 2018) and out of the 105 active brokers in Iran capital market, Agah Group brokerage arm managed to place first in terms of the highest value of trades; furthermore, 41% of online trading (electronic trades) was conducted by 5 brokerage firms, among which, Agah was placed […]

Market News – The integrated Iranian FX platform, aka “NIMA”, aiming to facilitate the currency trades for market participants, will be launched today afternoon, after massive controversial debates on the nation’s foreign exchange rate volatilities. Putting banks as the main market player, the new platform will promote transparency, fix the market liquidity, gather all FX needs of […]