EghtesadOnline: The abolition of the 42,000 rials per dollar exchange rate for the import of essential goods recently approved by Majlis Joint Commission is bound to increase inflation, says the head of Plan and Budget Organization.
EghtesadOnline: Gold prices in Iran slipped on Thursday influenced more from trends in international markets than domestic forex rates.
EghtesadOnline: Over the past decade, goods and services in Iran suffered at least two bouts of price shocks following unprecedented volatility in the currency market due to foreign economic sanctions.
EghtesadOnline: Figures from the Central Bank of Iran show that foreign currency revenues from non-oil exports from August 7 to October 3 through Nima–the Integrated Forex Deals System launched by the government after it unified the USD forex rate – reached €2.84 billion.
EghtesadOnline: Iranian auto importers, who had brought vehicles into the country when the open market forex rate was significantly lower than the current average of 95,000 rials per US dollar, need to slash the price of the cars they are offering in the market or the government will claim a share of their incomes.
EghtesadOnline: The gradual move toward unifying foreign exchange rates has started but the timeframe for its realization depends on a variety of factors, says the governor of the Central Bank of Iran.