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 […]

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, […]

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, […]

Market News – Following the recent hikes in USD/IRR and eyeing the future of global gold price, the options trades on Iranian gold coin future contracts took a pick on the very first days of the new year. More than 113,191 option contracts worth IRR 21,671 bn (cUSD 473.8 mn) have been sold during the first 3 […]

The Central Bank of Iran announced that its finance deal with Austria’s Oberbank has not been halted after a report suggesting otherwise emerged in the past few days. “As Austria’s ambassador to Tehran announced, Austria’s Oberbank and the country itself have had no policy changes in having financial relations with Iran, and cooperation is continuing,” […]

Iran is yet to fully regain its status in the global banking industry following the implementation of the 2015 nuclear deal that provided sanctions relief, and in case of Sweden, it hopes that joint ventures in the auto industry would prove a turning point. On Wednesday, a host of high-level officials with the Central Bank […]

Market News – As a part of President Rouhani’s transportation fleet renewal plan to reduce air pollution and fuel consumption, Iran’s truck fleet is to be renewed, which can pave grounds for resuming correspondent banking relations between Iran and Sweden. As estimated, this plan provides an investment opportunity worth EUR 5 mn, that in case financed by […]

The International Monetary Fund, in its latest assessment of Iran’s economic situation as part of its Selected Issues paper, has hailed Iran’s progress in upgrading its legislative and institutional anti-money laundering and combating the financing of terrorism (AML/CFT) framework. IMF believes this would help facilitate the country’s broader connections to the global banking system, the […]

The governor of the Central Bank of Iran on Tuesday made several appointments as he enters his fifth and the final year of his term.  In his first announcement, Valiollah Seif appointed Hossein Yaqoubi Miab as his deputy for international affairs, replacing Gholamali Kamyab who now will serve as an advisor to Seif. Miab earlier […]

Market News – Following the recent rise in Iranian gold coin (Bahar Azadi) price, the derivate board of Iran Mercantile Exchange has decided to take margin limits higher for future contracts. According to the news, the initial margin is set to be IRR 17,500,000 for each contract from today (Apr 04, 2018). Counting the additional margin as well, the total figure […]