EghtesadOnline: The US dollar was traded above the psychological level of 130,000 rials on Saturday and was worth 132,000 rials in Tehran’s open market -- the highest in the past five months.
EghtesadOnline: A weak local currency has proved to be a boon to Iran’s inbound tourists while a nemesis to its outbound tourism industry, at least twice in the past decade.
EghtesadOnline: The national currency is 40% stronger than the last fiscal year (ended March 20), says Abdolnasser Hemmati, governor of the Central Bank of Iran.
EghtesadOnline: Governor of the Central Bank of Iran says removing four zeros from the rial is one necessity of the monetary system and postponing it to the future will not help.
EghtesadOnline: Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture says lopping off zeros from the national currency will not produce the desired results unless the initiative is intertwined with structural reforms.
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: Governor of the Central Bank of Iran says lopping off four zeros from the national currency will not impose additional costs on the government regarding printing banknotes.
EghtesadOnline: The government on Wednesday approved a central bank proposal based on which four zeros will be shaved off and the national currency rial and the change from official rial to the popularly used toman.
EghtesadOnline: Currency rates in Tehran briefly hit six-month lows since January 9 as the US dollar was traded for 111,000 rials during the mid-day trade in the open forex market on Wednesday.
EghtesadOnline: The currency market, seemingly in calm waters for almost two weeks, shot up Thursday triggered by negative political developments.