EghtesasOnline: Currency rates continued on the downward path in Tehran on Sunday as the Central Bank of Iran mobilizes its resources to plug the gap between rates in the open market and secondary market.
EghtesadOnline: The economic pressure that the United States is exerting on Iran using the dominance of its currency will be a source of trouble for this country in the long run, Iran's chief diplomat said.
EghtesadOnline: The currency market, seemingly in calm waters for almost two weeks, shot up Thursday triggered by negative political developments.
EghtesadOnline: In the fiscal month to May 22, almost €2.16 billion in foreign currency was sold via the Integrated Forex Deals System, locally known as Nima, IRNA reported. In the same period currency rates in Nima also soared.
EghtesadOnline: Governor of the Central Bank of Iran says besides the importance for the national currency to regain more of its value, the CBI remains focused also on the stability of the rial.
EghtesadOnline: Despite an uptick in gold prices in international markets on Monday, the yellow metal stayed almost unchanged in Tehran due largely to falling currency rates.
EghtesadOnline: The Special Purpose Vehicle, a dedicated non-dollar payment channel created by Europe to keep trade flowing with Iran in defiance of US sanctions, is likely to be launched soon.
EghtesadOnline: The rial strengthened sharply on Tuesday, climbing to a near three-month high against the US dollar. With the exchange rate breaking below the psychological level of 110,000, the US dollar was traded in the open market for about 107,000 rials.
EghtesadOnline: Foreign exchange rates gained on the Tehran currency market on Sunday for the first time after a period of stability with the dollar again crossing the resistance level of 140,000 rials. In late afternoon, the greenback traded at 144,000 rials. The euro changed hands for 166,000 rials, up from the previous day's 159,000 rials.
EghtesadOnline: Much as the Iranian national currency's steep devaluation in recent months gave rise to challenges, it has also provided a boost to the country's trade balance on the back of surging exports and dwindling imports.