EghtesadOnline: Currency rates in Tehran’s market have been rising since last week after more than three months of relative calm.
EghtesadOnline: Soon after a call by President Hassan Rouhani, the Central Bank of Iran has published a report on its website that sheds light on the amount of subsidized currency allocated for importing essential goods and machinery in the first five months (March 21-August 22, 2018) of the last fiscal year.
EghtesadOnline: The total value of foreign currencies sold by exporters of non-oil goods at Iran's secondary market amounted to €9.2 billion since the beginning of the current fiscal year (started March 21), €7.86 billion of which have been purchased by importers.
EghtesadOnline: A weak local currency has proved to be a boon to Iran’s inbound tourists while a nemesis to its outbound tourism industry, at least twice in the past decade.
EghtesadOnline: The Supreme Council of Economic Coordination extended the authority of the central bank governor, Abdolnasser Hemmati, for one more year to intervene and regulate the foreign exchange market, the government spokesperson said at the weekend.
EghtesadOnline: A report published by the economic research department of Tehran Chamber of Commerce, Industries, Mines and Agriculture show that the currency market was the worst-performing market in the first four months (March 20-July 22) of the present fiscal year.
EghtesadOnline: The foreign exchange rate in Tehran has been on a declining trajectory since the beginning of the Iranian week on Saturday, amid a noticeable decrease in demand for foreign currency.
EghtesadOnline: The currency market, seemingly in calm waters for almost two weeks, shot up Thursday triggered by negative political developments.
EghtesadOnline: Currency rates continued to descend in markets across the country on Wednesday as businesses took some relief from weeks of political bickering in the region.
EghtesadOnline: Bank-affiliated exchange bureaux are required to cut the cost on money transfers in order to facilitate currency deals in banknote and hawala, the Central Bank of Iran reported on its website.