EghtesadOnline: Sailing in calm waters since the beginning of the calendar year (mid-March), the currency market witnessed another fall at the start of the business week in Tehran on Saturday.
EghtesadOnline: Currency rates surged in the open market in Iran following more than two weeks of bear market after demand for foreign currency rose amid expectations that the plunging forex rates had hit the bottom.
EghtesadOnline: The foreign exchange rate in Integrated Forex Deals System (Persian acronym for Nima) has been hiked in recent months to come closer to the rates quoted on the Sana website that reports the average exchange rates from the exchange bureaus, according to a report by the Department of Economic Reviews of Tehran Chamber of Commerce, Industries, Mines and Agriculture.
EghtesadOnline: Following hikes in forex rates in the Integrated Forex Deals System, known by its Persian acronym Nima, Iranian exporters repatriated more overseas earnings to the country.
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.