EghtesadOnline: The Majlis Research Center says a parliamentary bill wanting to scrap the US currency from Iran’s overseas transactions would further add to the already detrimental effects of US sanctions targeting Iran’s economy.
EghtesadOnline: Euro and the Chinese yuan topped the Central Bank of Iran's list of subsidized currencies allocated for imports in the past 13 months, with USD at the bottom of the list.
EghtesadOnline: The rial strengthened sharply on Tuesday, climbing to a near three-month high against the US dollar. With the exchange rate breaking below the psychological level of 110,000, the US dollar was traded in the open market for about 107,000 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: Foreign exchange rates were again defiant and continued to climb on Tuesday with the US dollar surpassing the all-time high of 160,000 rials.
EghtesadOnline: As part of the latest measure to ditch the US dollar from the country's transactions, the Central Bank of Iran has removed the American currency from the list of Sanarate.ir, the website reporting the exchange rate of foreign currencies based on exchange bureaux information.
EghtesadOnline: After the temporary removal of the US dollar from Sanarate.com, the website that records the average exchange rate of foreign currencies from across the exchange bureaux, the greenback has found its way back into the online portal.
EghtesadOnline: On Thursday, which marked the last trading day in Iran’s markets, gold coin had a slight drop of 25,000 rials ($0.51) and fetched 16.33 million rials ($336), Banker.ir, an analytical news website, reported.
EghtesadOnline: Based on a directive issued by the Ministry of Industries, Mining and Trade, the ministry-affiliated National Trade System announced that as of Wednesday, all traders are prohibited from registering their import orders using the US dollar.
EghtesadOnline: The US dollar made new gains against the rial on Wednesday, but stopped short of crossing another psychological barrier.