EghtesadOnline: Governor of the Central Bank of Iran says the government is opposed to the repatriation of export earnings in rial as it would weaken the economy.
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 Tehran has been on a declining trajectory since the beginning of the Iranian week on Saturday, amid a noticeable decrease in demand for foreign currency.
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: The Central Bank of Iran supplied over $6 billion in foreign currency for importing goods in two months since the beginning of the current fiscal on March 21.
EghtesadOnline: The National Development Fund of Iran, the sovereign wealth fund, plans to lend $10 billion in foreign currency for private sector projects in the current fiscal (March 2019-20).
EghtesadOnline: The acting head of Trade Promotion Organization of Iran says $46 billion in foreign currency has been allocated for imports in the current fiscal. Of this $24 billion was allocated by banks and $10.5 via Nima (integrated forex rate system).
EghtesadOnline: Governor of the Central Bank of Iran says the subsidized foreign currency programs for importing essential goods has failed to achieve the desired results due mainly to the dysfunctional distribution systems.
EghtesadOnline: Lawmakers allowed the government on Sunday to withdraw €2.37 billion from the National Development Fund of Iran to be paid in foreign currency for completing national projects in the next fiscal that starts on March 21.
EghtesadOnline: The Central Bank of Iran is going to launch a mechanism for tracking forex allocated to the import of essential goods to ensure importers fulfill their commitments for which they acquired foreign currency, the CBI governor said.