EghtesadOnline: As Iran is dealing with the ramifications of the government's policy announced on April 9 to unify the country's dual foreign exchange rates, the private sector has called on President Hassan Rouhani's administration to make a series of changes to its policy, especially by creating a secondary foreign exchange market.
EghtesadOnline: Most share prices have dropped to record lows, but fears of US sanctions snapping back and a discontent with foreign exchange rates seem to keep traders rooted in place.
EghtesadOnline: The Central Bank of Iran's Governor Valiollah Seif answered heated questions during an appearance in the latest open session of the parliament after the government announced late Monday that it has unified foreign exchange rates and the US dollar will be offered to all at 42,000 rials in response to the worst currency crisis hitting the country in more than five years.
EghtesadOnline: Rampaging foreign exchange rates have grabbed many headlines in the past few months and especially the past few days, but the ailing housing sector that recently showed signs of coming out of its five-year recession is liable to take one of the biggest hits.
EghtesadOnline: Foreign exchange rates continued to surge in Tehran's market amid confusion about the causes of the rally, as both Economy Minister Masoud Karbasian and Governor of the Central Bank of Iran Valiollah Seif are set to appear before lawmakers to explain the situation.
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 Central Bank of Iran’s main plan to control runaway foreign exchange rates has been successful, as the total value of liquidity attracted by banks from the sale of rial certificates of deposit has amounted to 2.4 quadrillion rials ($53.5 billion), the head of the Private Association of Banks and Credit Institutions announced.
EghtesadOnline: The Central Bank of Iran is working to fulfill the longstanding pledge of unifying the dual foreign exchange rates, despite recent volatility that unsettled the currency market.
EghtesadOnline: Fluctuations in the currency market had caused a price hike in Iran's already beleaguered housing sector, but even though foreign exchange rates have currently cooled down, they are expected to have a positive impact on the housing sector.
EghtesadOnline: A decline in foreign exchange rates and diminished demand has caused a drop of about 700,000 rials ($16.2) in the price of Bahar Azadi gold coin, meaning that gold coin prices have “balanced” and the bubble that had formed is no more, the head of Tehran’s Gold and Jewelry Union said.