rial
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Dollar, Euro Higher Amid CBI Effort to Stabilize Rates
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.
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Gold and Currency Surge in Tehran Market
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.
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Iran: Forex Fluctuations Impact Domestic Travel Behavior
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.
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Central Bank of Iran Sees Rial in Stronger Position
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.
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Hemmati Underscores Need for Rial Revaluation
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.
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Structural Reforms First, Rial Revaluation Later
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…
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Central Bank of Iran Insists on Export Revenue Repatriation in Foreign Currency
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.
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Hemmati Supports Toman Against Rial
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.
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Iran: Rial Revaluation Issue Returns
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…
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Iran Currency Market: Rial Gains Against All Odds
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.
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Forex Climbs After 2 Weeks
EghtesadOnline: The currency market, seemingly in calm waters for almost two weeks, shot up Thursday triggered by negative political developments.
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Iran Govt’ Wants to Reform the Rial: Deleting Four Zeros
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…
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Tehran Market: Forex and Gold Surge Again
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…
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Central Bank of Iran Focus on Stability of Forex Rates
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.
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Gold in Tehran Steady Despite Int’l Rally
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.
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Iran: Idea of Lopping Off Zeroes From Rial Reemerges
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.
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Oil Trade on Iran Energy Exchange in Rials
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…
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Tehran Stocks Fall for Third Day in a Row
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.
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Iranian Rial Near 3-Month High Against USD
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,…
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Tehran Stocks Bleed as Optimism in Bank Shares Fade
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…
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Iran: Stocks Nosedive as National Currency Gains
EghtesadOnline: Tehran equity market nursed losses for the second straight day on Saturday as nervous investors took money off the table amid a rising rial and falling commodity prices.
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Iran Currency Market Relatively Calm
EghtesadOnline: The rial has been keeping relatively steady since the reimposition of US sanctions last week, a fact reflected in official comments in Tehran that much of the impact of the sanctions…
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Rial Devaluation Lifts Iran's Trade Balance
EghtesadOnline: Much as the Iranian national currency's steep devaluation in recent months gave rise to challenges, it has also provided a boost to the country's trade balance on the back of…
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India Working on Rupee-Rial Mechanism for Chabahar Port Project
EghtesadOnline: India is weighing a rupee-rial payment mechanism for the Chabahar Port project in Iran as it weaves a way around the impending sanctions imposed by the US on the Persian Gulf…
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Forex Rates Decline Continues in Tehran Market
EghtesadOnline: The currency market in Tehran stabilized further on Sunday with the USD exchange rate dropping below the support level of 140,000 rials. The greenback was traded for 138,000 rials…
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Iran: TEDPIX Continues Slide as Rial Stabilizes
EghtesadOnline: Selling continued on Saturday for stocks, with the Tehran Stock Exchange main gauge, TEDPIX, logging a third straight drop after getting hit by another jump in the rial value…
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Tehran Currency Market: Rial Rally Continues
EghtesadOnline: The Iranian rial continued its rally on Tuesday after weeks of depreciation had sent it to a series of record low. New gains for the national currency came unexpectedly as people…
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Forex, Gold Descend in Tehran Market
EghtesadOnline: The rial on Monday pared more of its losses in the open foreign exchange market and was traded at around 154,830 to the US dollar.
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Iran Home Video Sales Down 50%
EghtesadOnline: Home video sales of Soureh Pictures–a major producer and distributor of Iranian feature and short films in Iran–are down 50%, thanks to a rise in the prices of DVDs, the head…
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Iran’s CB Allowed to Intervene in Forex Market
EghtesadOnline: The government on Saturday authorized the central bank to intervene in the foreign exchange market to prop the rial after the currency fell to record lows in recent weeks against…