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: Currency rates have been rising in Iran’s open market amid the negative psychological climate created by the ongoing political developments and investors’ uncertainty about what the future holds.
EghtesadOnline: With last week's brief volatility behind, the currency market in Tehran experienced more stability on Saturday. The US dollar, which had surged above the resistance level of 140,000 rials last week, was traded for 137,000 rials in the open market.
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: Following the recent decline in foreign currency rates, the price of goods which leaped (thanks to earlier exchange rate rises) over the past several months is expected to fall again, says Mohammad-Reza Pour-Ebrahimi, the chairman of Majlis Economic Affairs Commission.
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: The currency market in Tehran stabilized further on Sunday with the USD exchange rate dropping below the support level of 140,000 rials. The greenback was traded for 138,000 rials on the open market to post the fourth straight decline. The Euro changed hands for 160,000 rials -- down from 162,400 at the outset of trade.
EghtesadOnline: While the foreign exchange rates are still considered bullish by most observers, both officials and businesspeople expect the market to stabilize in the coming days, as the latest rescue package takes effect.
EghtesadOnline: Foreign exchange rates in the unofficial market registered gains on Sunday after the government stopped all currency allocation at the unified rate of 42,000 rials.
EghtesadOnline; In his latest remarks to the news website of Iran Chamber of Commerce, Industries, Mines and Agriculture, the chamber’s deputy head talked of new deals in the industrial sector, underlining the importance of exchange rate unification and new openings in international banking.