Iran currency
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Afghan Immigrants, Refugees Leaving Iran in Droves
EghtesadOnline: A huge number of Afghan immigrants and refugees have begun to leave Iran due to the recent decline in the value of the Iranian national currency, arguing that it’s no more cost-efficie…
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Gov’t Think Tank: Overvalued Currency Counterproductive
EghtesadOnline: Institute for Trade Studies and Research, the think tank of the Ministry of Industries, Mining and Trade, concluded in a recent report that longstanding policies practiced by…
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Forex Rates Rebound in Tehran Market as CBI Increases Rate
EghtesadOnline: Both foreign exchange and gold markets on Monday kicked off their rallies after days of relative calm, with major foreign exchange rates registering significant gains against…
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Another Low for Iran’s Currency
EghtesadOnline: The US dollar broke above the 47,000-rial threshold by Saturday’s market close to signal yet another weakening of the Iranian currency.
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Forex Uptrend Bullish in Tehran Market
EghtesadOnline: Iran's foreign exchange market on Saturday witnessed a rise in the rates of all major currencies against rial, the national currency.
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US Dollar Close to All-Time High
EghtesadOnline: The US dollar rose close to its highest registered value against the rial on Monday, as the Iranian currency also lost against a slew of other major currencies.
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Steel Exporters Welcome Rial Depreciation
EghtesadOnline: It’s a fairly straightforward scenario. Weakening a domestic currency stimulates the country’s exports and makes imports more expensive—a desirable route to shape an export-oriented…
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Euro Hit New High
EghtesadOnline: The rial was quoted at 45,950 to euro on Thursday in Tehran’s market, losing 4.35% against the European currency compared with the previous Thursday’s close.
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Currency Change Requires Majlis OK
EghtesadOnline: The Central Bank of Iran on Tuesday announced that the government’s proposal for changing the currency unit needs to be passed by the parliament.
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Iranian cabinet approves bill to switch currency from rial to toman
EghtesadOnline: The administration of President Hassan Rouhani in a cabinet meeting on Sunday approved a bill to switch Iran's national currency from rial to toman, an official said on Monday.
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Subsidized Currency Hurting Domestic Production
EghtesadOnline: Domestic production in Iran is highly subsidized by the state, which is borne out by the fact that the country is not a member of World Trade Organization and the significantly…
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Tenuous Dollar Role Merits Shift to Other Currencies
EghtesadOnline: A Central Bank of Iran official has denied any downside resulting from the country's decision to ditch the US dollar in its official statements, saying the minor role of the greenback…
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Iran pressing ahead with plan to ditch dollar
EghtesadOnline: A recent controversial decision by a Luxembourg court to endorse freezing Iran’s assets has once against brought a plan by Tehran to ditch the US dollar into the spotlight.
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Iran to Dilute Dollar Role in Currency Basket in the Wake of Luxemburg Court Case
EghtesadOnline: The Central Bank of Iran has announced that it will continue to pursue plans to sideline the US dollar.
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Gold Down, USD Up
EghtesadOnline: Bahar Azadi Gold Coin fell by 100,000 rials on Wednesday, changing hands for 12.10 million rials ($323) in Tehran’s market to witness another drop after an unexpected rally in…
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IMF: Early Forex Rate Unification Possible in Iran
EghtesadOnline: The International Monetary Fund is optimistic that Iran can unify its dual foreign exchange rates in 2017-18 despite recent challenges facing the country, such as currency market…
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USD at 100-Day Low Against the Rial
EghtesadOnline: The rial was quoted at 37,240 to the US dollar on Wednesday, gaining 0.59% against the greenback compared with Tuesday's close.
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USD at 37,800 Rials in Tehran Market
EghtesadOnline: The rial was 37,800 to the dollar on Saturday, marking a 0.08% gain against the US currency compared with the previous day’s close, according to Tehran Gold and Jewelry Union's…
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CBI Says Currency Fears Are Over
EghtesadOnline: The Central Bank of Iran has managed to control foreign exchange rates and promote a relative stability in the forex market despite a turbulent season that saw the rial drop to…
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Iran can become next major Bitcoin market by stopping to use USD
EghtesadOnline: Following the recent problems occurred after US President Donald Trump has taken office and the CBI’s fresh policy to stop using US dollar, Iran can become the next major Bitcoin…
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Proposal for Setting Forex Rates
EghtesadOnline: The difference between domestic and foreign inflation rates should be used to determine the foreign exchange rates, the head of Tehran Chamber of Commerce, Industries, Mines and…
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USD at 38,200 Rials
EghtesadOnline: The US dollar was quoted in the free market at 38,200 rials on Monday. According to the Association of Bureaux de Change Operators of Iran, rial strengthened from 38,250 to 38,000…
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USD at 38,210 Rials
EghtesadOnline: The rial was quoted at 38,210 to the US dollar on Monday, gaining 0.79% against the greenback compared with Sunday’s close, according to Tehran Gold and Jewelry Union’s website.…
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Iran to Ditch US Dollar in Official Reports
EghtesadOnline: Iran will stop using the US dollar as its currency of choice in its financial and foreign exchange reports from the new fiscal year that begins in March, announced the governor…
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A Review of Academic Studies on Rial/Dollar Exchange Rate
EghtesadOnline: Recent fluctuations in the rial/dollar exchange rate have prompted a lively debate among economists and financial experts in Iran over forecasting currency movements.
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US Dollar at 38,500 Rials
EghtesadOnline: The US dollar was exchanged for 38,500 rials in Tehran’s market, the Association of Bureaux de Change Operators of Iran announced, down by 800 rials or 2% compared with Monday.
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Rouhani pledges to reverse slide of Iran's currency
EghtesadOnline: President Hassan Rouhani sought to reassure Iranians on Sunday that the government would work to protect market stability after the country's currency fell to a record low last…
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Rial Strengthens to 39,500 Per USD
EghtesadOnline: The unification of Iran's dual foreign exchange regime and the decline in the exchange rate of major currencies were among the most important topics discussed at Saturday's meeting…
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Lawmaker Warns of Currency Change Cost
EghtesadOnline: Changing Iran’s official monetary unit from rial to toman would cost a hefty 30 trillion rials ($922.7 million), announced the head of Majlis Economic Commission.
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Dollar gain to rials does not mean devaluation of national currency
EghtesadOnline: Deputy Minister of Economy and Finance for Banking, Insurance and State Companies Affairs Hossein Ghazavi said on Saturday that dollar gain to the rials does not mean devaluation…