EghtesadOnline: The currency market, seemingly in calm waters for almost two weeks, shot up Thursday triggered by negative political developments.
EghtesadOnline: The plan to remove four zeros from the rial is on the government agenda, again. The oft-mentioned move was proposed in the past by Central Bank of Iran as part of a broader plan to revisit the monetary system.
EghtesadOnline: Currency rates and gold prices continued their steady rise in Tehran amid a bull run in the stock market. On Monday the US dollar climbed above the resistance level of 140,000 rials for the first time in the current calendar year that began on March 21.
EghtesadOnline: Governor of the Central Bank of Iran says besides the importance for the national currency to regain more of its value, the CBI remains focused also on the stability of the rial.
EghtesadOnline: Despite an uptick in gold prices in international markets on Monday, the yellow metal stayed almost unchanged in Tehran due largely to falling currency rates.
EghtesadOnline: Governor of the Central Bank of Iran Abdolnaser Hemmati said Sunday the regulator has proposed to the government lopping off four zeros from the rial.
EghtesadOnline: The Supreme Council of Economic Coordination – a special body comprising heads of the three branches of government – has agreed to the total settlement in rials of payments for crude oil sales on the Iran Energy Exchange.
EghtesadOnline: Tehran stocks retreated for the third consecutive day on Monday as base metal and steel shares came under further pressure and the rial strengthened.
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: Nervous investors on Sunday dumped bank stocks after their early optimism about the prospects of banks faded. Bank shares had become a new favorite of investors after the rial gains curbed the love for the shares of export companies.