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: A near fivefold rise in packing paper exports, thanks to the surge in foreign currency rates against the Iranian rial and the prices of recycled paper, has led to the shortage of raw materials needed for the production of cardboard boxes.
EghtesadOnline: The Central Bank of Iran released a statement assuring the public and businesses that the recent price surge in the open market is bound to abate, as CBI seeks to deepen the market with more supply.
EghtesadOnline: Iran and Russia are currently conducting bilateral trade in their local currencies, rial and ruble respectively, as well as euro, a former official of Iran-Russia Chamber of Commerce said.
EghtesadOnline: The Central Bank of Iran has increased the US dollar's exchange rate for the fourth time since it unified the rate on April 9.
EghtesadOnline: Premium rates on travel insurance have increased by as much as 25% on the back of a recent slide in rial’s value against the dollar.
EghtesadOnline: Governor of the Central Bank of Iran said the exchange rates of the US dollar, which were unified at 42,000 rials last month, will not remain fixed and change 5-6% until the end of the current fiscal year on March 20, 2019.
EghtesadOnline: Tehran Prosecutor Abbas Jafari Dolatabadi said the judiciary has arrested 180 people on charges of violating forex regulations that were tightened recently to contain a sharp decline in rial’s value.
EghtesadOnline: It is too soon to pass judgment on the administration’s decision to fix the US dollar’s exchange rate at 42,000 rials, the deputy economy minister for banking and insurance said.
EghtesadOnline: President Hassan Rouhani's administration on Wednesday officially discarded the US dollar as its currency of choice for financial reporting and opted for the euro.