EghtesadOnline: A huge number of Afghan immigrants and refugees have begun to leave Iran due to the recent decline in the value of the Iranian national currency, arguing that it’s no more cost-efficient to work in the country.
EghtesadOnline: Institute for Trade Studies and Research, the think tank of the Ministry of Industries, Mining and Trade, concluded in a recent report that longstanding policies practiced by consecutive governments aimed at helping lower-class groups are having the opposite effect.
EghtesadOnline: Both foreign exchange and gold markets on Monday kicked off their rallies after days of relative calm, with major foreign exchange rates registering significant gains against Iran's national currency.
EghtesadOnline: The US dollar broke above the 47,000-rial threshold by Saturday’s market close to signal yet another weakening of the Iranian currency.
EghtesadOnline: Iran's foreign exchange market on Saturday witnessed a rise in the rates of all major currencies against rial, the national currency.
EghtesadOnline: The US dollar rose close to its highest registered value against the rial on Monday, as the Iranian currency also lost against a slew of other major currencies.
EghtesadOnline: It’s a fairly straightforward scenario. Weakening a domestic currency stimulates the country’s exports and makes imports more expensive—a desirable route to shape an export-oriented economy taken by many export powerhouses such as China.
EghtesadOnline: The rial was quoted at 45,950 to euro on Thursday in Tehran’s market, losing 4.35% against the European currency compared with the previous Thursday’s close.
EghtesadOnline: The Central Bank of Iran on Tuesday announced that the government’s proposal for changing the currency unit needs to be passed by the parliament.
EghtesadOnline: The administration of President Hassan Rouhani in a cabinet meeting on Sunday approved a bill to switch Iran's national currency from rial to toman, an official said on Monday.