EghtesadOnline: Spike in foreign currency rates gained momentum on Monday after an average 3% climb a day earlier.
EghtesadOnline: The rial extended a losing streak against major currencies for the third day on Wednesday, pushing the Central Bank of Iran to intervene in the market to restore some semblance of calm.
EghtesadOnline: Major currencies soared in Tehran on Tuesday amid new concerns among market participants about a decision by the Financial Action Task Force on Iran by the weekend.
EghtesadOnline: The Majlis Economic Commission on Wednesday approved the provisions of a monetary bill based on which four zeros will be shaved off the national currency.
EghtesadOnline: Price of the US dollar reached 141,300 rials in Tehran’s open market on Sunday, the highest in the past nine months.
EghtesadOnline: Governor of the Central Bank of Iran said whatever the anti-money laundering Financial Action Task Force decides on February 21, the decision will not affect the currency market.
EghtesadOnline: Exchange shops in Tehran on Saturday sold the US dollar at 133,500 rials, which was up 2.7%, or 3,500 rials, compared to previous working day's close.
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.