Tag Archives | forex

Foreign Exchange Revenue Well Above Costs: President

Iranian President Hassan Rouhani assured the nation that the country’s foreign exchange revenue far outstrips the spending, stressing that foreign exchange reserves will even grow in future. In comments at a live televised speech on Monday night, President Rouhani gave an assurance that Iran’s foreign exchange revenue greatly exceeds the total foreign exchange costs, saying […]

Why is Iranian Rial suddenly Weakening?

By Saeid Jafari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. A recent devaluation of the rial on the so-called free market in Iran has raised concerns that the country’s economy will experience another collapse of the value of its national currency similar to what […]

Iran Postpones Unification of Exchange Rates

By John Lee. The Central Bank of Iran (CBI) has reportedly indicated that it will not be able to unify the country’s “official” and”open market” currency exchange rates by March 20, as previously planned. According to the report from Forbes, unifying the rates has been one of the key policy goals of the Rouhani government. […]

Is Rouhani Repeating Ahmadinejad’s Tricks in Currency Market?

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ever since the rial hit an all-time low against the greenback on Dec. 27, top monetary policymaker Valiollah Seif (pictured) has been reiterating that the Central Bank of Iran (CBI) will use every tool available […]

Deciphering Iran’s Sudden Currency Fluctuations

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Recent fluctuations in the free market rate of the Iranian rial have caused concerns within the country’s business community that the currency may experience a sharp decline in value due to economic and political […]

Heavy Fines for Illegal Moneychangers

By John Lee. Financial Tribune reports that many illegal bureaux de change in Iran have received heavy fines. The director general for banking regulations, licensing and anti-money laundering at the Central Bank of Iran (CBI), Abdolmahdi Arjomandnejad, said: “The authorities have taken legal measures against those who fail to obtain licenses for their currency exchange […]

Why Cheaper Rial could Help Iran

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. At present, Iran has both an official exchange rate and an unofficial market rate that is used in exchange houses. The rial trades at above 35,000 per US dollar on the open market, compared to […]