Currency

Russia exploring ways to replace dollar with euro, roubles in transactions

TEHRAN, Oct. 13 (MNA) – Russian Economy Minister Maxim Oreshkin said the country is considering alternatives to the US dollar for energy transactions and is exploring currency settlements in euros and roubles for energy exports to minimize US exposure.

Islamic Parliament Research Center:

Iran able to make its intl. trade unsanctionable via new monetary treaties

TEHRAN, Sep. 11 (MNA) –  In its latest report titled ‘challenges of and solutions for economic prosperity in year 1398’, Iran's Islamic Parliament Research Center underscores the vitality of making new mutual or multilateral monetary contracts with international trade partners for Iran to skirt SWIFT, which operates under full supervision of the US.

Bill on national currency reconversion submitted to Parliament

TEHRAN, Aug. 21 (MNA) – Iranian President Hassan Rouhani submitted the bill on reforming monetary and banking law including ‘eliminating four zeros from national currency and national currency reconversion’ to the Parliament.

Deputy FM:

Iran’s exports value to eastern neighbors at over $5bn

TEHRAN, Jul. 21 (MNA) – Deputy Foreign Minister for Economic Affairs Gholamreza Ansari put country’s current exports value to eastern neighboring countries at over $5 to $6 billion.

Financial channel to be set up for repatriation of exports currency from Iraq

TEHRAN, May 22 (MNA) – Secretary General of Iran-Iraq Joint Chamber of Commerce Seyyed Hamid Hosseini on Wednesday announced the launch of a financial channel for repatriation of exports revenues from Iraq.

Top Iranian council approves boost in central bank’s supervision over credit institutes

TEHRAN, Feb. 03 (MNA) – The Supreme Council of Economic Coordination convened on Sunday in a session chaired by President Hassan Rouhani, with heads of the other branches of the government in attendance.

TPOI urges IRICA to modify nonoil exports stats

TEHRAN, Jan. 26 (MNA) – Acting Head of Trade Promotion Organization of Iran (TPOI) and Deputy Minister of Industry, Mine and Trade Mohammadreza Modoudi called for the Islamic Republic of Iran Customs Administration (IRICA) to modify and amend nonoil exports statistics officially.

By Haniyeh Sadat Jafariyeh

Currency reconversion not a turning point in economic reformation

TEHRAN, Jan. 09 (MNA) – One of Iran’s main economic policies, under the framework of the sixth five-year development plan, is modification of banking system and reformation of monetary policies, moving forward toward which the Rouhani administration put forward the plan to shift the national currency from Rial to Toman earlier in December 2016 by eliminating specific number of zeroes.

Intelligence Ministry makes 25 arrests for economic corruption

TEHRAN, Jan. 07 (MNA) – Intelligence Ministry’s forces have arrested 25 members of two criminal networks that had infiltrated into the banking and foreign currency system of the country.

CBI seeks to slice four zeros off currency: Hemmati

TEHRAN, Jan. 06 (MNA) – The Central Bank of Iran (CBI) is looking to take four zeros off the national currency in a bid to curb the rising tide of liquidity and help the rial regain part of its lost value, an MP quoted the CBI governor as saying on Sunday.

Intelligence forces dismantle corruption ring

TEHRAN, Dec. 31 (MNA) – Intelligence forces in Kurdistan province have dismantled a criminal ring involved in taking advantage of government's foreign currency reserves, according to a statement by Intelligence Ministry on Monday.

Number of Iranian tourists visiting Turkey drops

TEHRAN, Dec. 29 (MNA) – The Ministry of Culture and Tourism of Turkey announced on Friday that the number of Iranian tourists visiting the country has dropped by 18.17 percent in January – November 2018, compared to same period last year.

Erdoğan says increase of exchange rate not due to economic reasons

TEHRAN, Oct. 06 (MNA) – Turkey’s President Recep Tayyip Erdoğan said that the recent increase in exchange rate is not due to economic reasons.

By: Haniyeh Sadat Jafariyeh

Reactions to rial rally in FOREX Market

TEHRAN, Oct. 06 (MNA) – Simultaneous with the decrease in foreign exchange rates and regain of rial, commencing as of Monday evening, other markets including gold, mobile phone and auto have shown a green light to the prices decline.

New CBI policies for managing currency market approved

TEHRAN, Sep. 29 (MNA) – Central Bank of Iran’s new set of policies for managing the currency market was approved on Saturday by the Supreme Council of Economic Coordination.

CBI governor:

Iran export of nonoil commodities in 5-month period hits $19bn

TEHRAN, Sep. 22 (MNA) – Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati put the total export volume of nonoil commodities in the first five months of the current Iranian calendar year in 1397 (March 21-August 21) at more than $19 billion.

Intelligence Ministry prevents currency exit by arresting members of pyramid scheme company

TEHRAN, Sep. 16 (MNA) – Iran’s Intelligence Ministry issued a statement on Saturday indicating that members of a pyramid scheme company have been arrested who were trying to illegally take out currency from the country.

CBI orders acceleration of export-related currency supply

TEHRAN, Sep. 10 (MNA) – In a directive issued by the Central Bank of Iran (CBI), supply of currency obtained from exports will accelerate.

Iraq customs increases currency exit limit for Iran travel

TEHRAN, Sep. 10 (MNA) – Iraqi Customs put the maximum currency allowed for entering into the Islamic Republic of Iran at €10,000 or its equivalent.

Rial regaining value against foreign currencies: CBI governor

TEHRAN, Sep. 09 (MNA) – Iranian Central Bank Governor Abdolnasser Hemmati says that with the CBI's intervention in foreign exchange market, the rising trajectory of value for Iranian national currency rial has started.

Rouhani takes Parliament's questions over economic situation  

TEHRAN, Aug. 28 (MNA) – President Hassan Rouhani is attending today’s Parliament session to answer MPs' questions on his government's handling of the country’s economic situation.

MPs call for opening probe into CBI case

TEHRAN, Aug. 18 (MNA) – An Iranian MP said Sat. that the Parliament's Economic Commission is seeking to open a probe into the activities and performance of Central Bank of Iran (CBI) in 13 different topics, including the handling of the currency rate.

Parliament supports government policies on currency

TEHRAN, Aug. 18 (MNA) – Parliament, and in specific the economy commission, back the new set of policies put forward by the Iranian government, said Mohammadreza Pourebrahimi, the Chairman of Iran’s Parliament Economic Committee.

Trump after forcing Iran to negotiate: Rezaei

TEHRAN, Aug. 14 (MNA) – the Secretary of Iran's Expediency Council Mohsen Rezaei said on Tuesday that US president is trying to exert economic pressure on Iran to force Iran to come to terms with US.

Former CBI governor must be held responsible for market rigging: MP

TEHRAN, Aug. 14 (MNA) – An Iranian MP said on Tuesday that the former CBI governor Valiollah Seif must be held liable for rigging in gold and currency markets.

More Iraqi Kurds visit Iran as rial depreciation reduces travel costs

TEHRAN, Aug. 14 (MNA) –The depreciation of Iranian national currency 'the rial' has significantly decreased the cost of travel to Iran for Iraqi Kurds, boosting tourism in the country.

CBI issues statement on recent developments at FOREX Market

TEHRAN, Aug. 12 (MNA) – Central Bank of Iran (CBI) on Saturday night issued a statement on the recent developments at the Foreign Exchange Market according to the government’s new currency package.