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.
EghtesadOnline: Currency rates and gold prices continued their steady rise in Tehran amid a bull run in the stock market. On Monday the US dollar climbed above the resistance level of 140,000 rials for the first time in the current calendar year that began on March 21.
EghtesadOnline: Foreign exchange rates and gold began the week in a bullish mood as the two surged on Saturday in Tehran market.
EghtesadOnline: Foreign exchange rates and gold dropped in Iran as markets reopened on Saturday in an expected response to a move by European powers on Thursday to launch a special payment channel for Iran.
EghtesadOnline: The Central Bank of Iran is going to launch a mechanism for tracking forex allocated to the import of essential goods to ensure importers fulfill their commitments for which they acquired foreign currency, the CBI governor said.
EghtesadOnline: As the Central Bank of Iran struggles to stabilize the foreign exchange market – a colossal task that has long exacted energy and focus of the regulator – some argue that the CBI’s disproportionate focus on controlling the demand side of forex could ultimately do more harm than help.
EghtesadOnline: The rial on Monday pared more of its losses in the open foreign exchange market and was traded at around 154,830 to the US dollar.