Financial Tribune - Major currencies hit six-month highs on Thursday as the US dollar was heading toward the resistance level of 130,000 rials. The greenback climbed above 128,000 rials for the day and was traded higher at about 130,000 rials in Tehrans black market. According to the government news outlet IRNA, recent turmoil in the foreign ...

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 ...

MNA An official in charge of banking system of the country said on Sunday that export of non-oil commodities can meet foreign currency needed in the country. Director ofExport Development Bank of IranAliSalehabadipointed to enemies malicious objectives in reducing oil sales of the country and added, non-oil exports can compensate reduced ...

Financial Tribune - Foreign exchange rates on Tuesday registered dramatic increases after weeks of stability that saw the rial recover much of its earlier losses. The US dollar was traded 115, 000 in the afternoon, up from the previous day's 103,000 rials. The euro was traded for 131,500 rial across exchange bureaux, up from 121,500 on Monday. The ...

IRNA - Iranian companies, which trade saffron from Afghanistan, return foreign exchange from exporting it to Iran, an official of the Ministry of Agriculture Jihad Department of Medical Plants said. 'According to statistics, Iran still ranks 1st in producing and exporting saffron while Afghanistan, India and Spain are among other saffron producers ...

Financial Tribune - Foreign exchange rates continued their downward trend on Tuesday even as new US sanctions are being imposed on Iran. According to reports from the open market, the rial was traded for 136,500 rials down from the previous day's 140,000 rials. The euro was traded for 158,000 rials, down 1,000 rials compared with Monday. The gold ...

Financial Tribune- Following complaints about the exclusion of travel services from the list of priorities for foreign exchange allocation, the Central Bank of Iran has pledged in a verbal announcement that tour operators will be provided with foreign currency through drafts. According to Hormatollah Rafiei, head of the Travel Agents Guild Association,...

IFP - A document released on the website of the US Central Intelligence Agency shows that the Islamic Republic outstrips the United States in terms of reserves of foreign exchange and gold. The document known as the World Factbook shows that Iran ranks 19 with $133.7 billion in forex and gold reserves until December 31, 2016. This comes as the ...

MNA Secretary of Supreme Council of Free Zones Morteza Bank said the initial version of foreign exchange regulations in free zones will be formulated. With the coordination made in this regard, international stock market should be set up," he added Speaking in his weekly press briefing, he saidtourism industry should be emphasized due to the ...

Financial Tribune- In its latest directive, the Central Bank of Iran has raised the limit on the maximum amount to which the ratio of debts and assets held in foreign currencies by all banks and certified non-bank credit institutions can rise. "With the aim of reviewing and updating regulations pertaining to the net open positions, the central bank ...

Financial Tribune- The unification of Iran's dual foreign exchange regime and the decline in the exchange rate of major currencies were among the most important topics discussed at Saturday's meeting between top economic officials and senior lawmakers, as rial continues to gain against the US dollar, announced the chairman of Majlis Economic Commission....

Reuters- Iran authorized some banks on Saturday to deal in foreign exchange trading at a free-market rate, the central bank said, as authorities try to unify exchange rates. Iran operates two exchange rates, a free market rate, which was at around 40,140 rials to the dollar on Saturday and an official rate used for some state transactions, set by ...

Tehran, Sept. 29, IRNA The International Monetary Fund Article IV Consultation delegation presented a report on the budgetary and efficiency policies at the Central Bank of Iran proposing the revival of Foreign Exchange Reserve Fund. Oliver Basdevant, a member of the delegation, said Irans budget is based on oil revenues and there are no budgetary ...

Risk aversion prevailed as Iranian investors cashed out of risky assets and moved toward the haven of foreign exchange and gold on Wednesday. Iranian markets showed a cautious first reaction to the signing of a historic deal between Iran and P5+1United States, Russia, Britain, France, China and Germanythat would ensure the peaceful nature of Iran's ...

The governor of Central Bank of Iran (CBI) has said that there is no plan to unify the countrys multi-tier foreign exchange system, an MP says. Nasser Ashouri said Valiollah Seif made the remarks in a meeting with the Economic Committee of the parliament (Majlis). In this meeting, the CBI governor announced that the single forex rate system would ...

[caption id="attachment_133794" align="alignright" width="193"] Iranian Finance and Economic Affairs Minister, Ali Tayyebnia[/caption] Irans minister of economy says the country would replace the current multi-tier foreign exchange system with a single system if economic conditions prove to be propitious. The conditions for unifying forex rate ...

By Reuters Oct 3 (Reuters) -Iranis working to shrink and eventually eliminate the free market in its tumbling rial currency, the economy minister was quoted as saying amid signs that foreign exchange trade outside a government-sanctioned centre was drying up. "The unofficial currency market will be gathered up," Shamseddin Hosseini was quoted ...

Minister of Economic Affairs and Finance Shamseddin Hosseini said Monday that Iran would no longer use euro and dollar in its trade exchanges according to a decission made by the government's economic working-group. Iranian state news agency IRNA writes about this. "Iran's government is determined to remove euro and dollar from its foreign trade and ...

By The Washington Post TEHRAN Ahmad, a 45-year-old conservative Iranian, saw his business brought to an abrupt halt when his Tehran shop was sealed off by state authorities recently. A currency trader for 20 years, Ahmad has continued to operate underground, although his daily trade has slowed to a trickle. Pacing the street by his shuttered ...

By Reuters TOKYO, Oct 12 (Reuters) - Iran's foreign exchange reserves are in a "good position", itsfinanceminister said on Friday, as the government grapples with a steep decline in its currency and sanctions from Western countries over its nuclear programme. Shamseddin Hosseini, Iran's minister of economic affairs and finance, told reporters ...