Iran rial
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Nima Forex Rates Rise
EghtesadOnline: In the fiscal month to May 22, almost €2.16 billion in foreign currency was sold via the Integrated Forex Deals System, locally known as Nima, IRNA reported. In the same period…
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Packaging Industry Facing Shortage of Raw Materials
EghtesadOnline: A near fivefold rise in packing paper exports, thanks to the surge in foreign currency rates against the Iranian rial and the prices of recycled paper, has led to the shortage…
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Central Bank of Iran Seeks Forex Stability
EghtesadOnline: The Central Bank of Iran released a statement assuring the public and businesses that the recent price surge in the open market is bound to abate, as CBI seeks to deepen the market…
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Iran, Russia Dealing in Local Currencies, Euro
EghtesadOnline: Iran and Russia are currently conducting bilateral trade in their local currencies, rial and ruble respectively, as well as euro, a former official of Iran-Russia Chamber of Commerce…
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Further Hike in Unified USD Rate
EghtesadOnline: The Central Bank of Iran has increased the US dollar's exchange rate for the fourth time since it unified the rate on April 9.
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Travel Insurance Up 20-25%
EghtesadOnline: Premium rates on travel insurance have increased by as much as 25% on the back of a recent slide in rial’s value against the dollar.
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Seif: 5-6% Flexibility in USD Rate Until March
EghtesadOnline: Governor of the Central Bank of Iran said the exchange rates of the US dollar, which were unified at 42,000 rials last month, will not remain fixed and change 5-6% until the end…
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180 People Arrested Over Forex-Related Offences
EghtesadOnline: Tehran Prosecutor Abbas Jafari Dolatabadi said the judiciary has arrested 180 people on charges of violating forex regulations that were tightened recently to contain a sharp…
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Iran Ditches US Dollar for Euro in Financial Reports
EghtesadOnline: President Hassan Rouhani's administration on Wednesday officially discarded the US dollar as its currency of choice for financial reporting and opted for the euro.
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Passing Judgment on Forex Decision Premature
EghtesadOnline: It is too soon to pass judgment on the administration’s decision to fix the US dollar’s exchange rate at 42,000 rials, the deputy economy minister for banking and insurance said.…
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Gold Coin Drops in Tehran After New Forex Measures
EghtesadOnline: When the Central Bank of Iran abruptly announced the unification of the US dollar's exchange rate from Tuesday, the gold market reacted swiftly and prices declined.
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Seif: Unified USD Rate Not Fixed
EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif said the drastic decision by the government to unify the US dollar’s rate does not mean that a fixed exchange rate system would…
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Iran Parliament Briefed on Unified Forex Rates
EghtesadOnline: The Central Bank of Iran's Governor Valiollah Seif answered heated questions during an appearance in the latest open session of the parliament after the government announced late…
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Gold Prices Tumble, Trade Halted
EghtesadOnline: Following news that the US dollar rate has been unified at 42,000 rials, gold prices also went into freefall, although the head of Tehran Gold and Jewelry Union declared that…
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Tehran Market: Forex Bull Run Rages On
EghtesadOnline: Foreign exchange rates continued to surge in Tehran's market amid confusion about the causes of the rally, as both Economy Minister Masoud Karbasian and Governor of the Central…
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Iran Parliament Mulls Forex Rescue Package
EghtesadOnline: With the US dollar's exchange rate remaining above the psychological threshold of 50,000 rials in Tehran's market, lawmakers frustrated with the performance of the Central Bank…
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FX, Gold Markets Still Bullish in Tehran Market
EghtesadOnline: Most foreign currencies continued to gain against the rial on Wednesday in a rally that started from the early days of the current Iranian year that began on March 21. According…
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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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Iran Currency Market Gearing Toward Euro
EghtesadOnline: The ban imposed by the Industries Ministry on import orders based on US currency seems to be a win for the European currency.
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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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Rial Gaining Ground in Tehran Market
EghtesadOnline: Rial continued its gain against the US dollar in Tehran's foreign exchange market, as the Central Bank of Iran pushed through with its rescue package to stabilize the currency…
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Tehran Currency Market: USD Bearish as CBI Measures Sink In
EghtesadOnline: After weeks of wild rallying, the US dollar has lost its bullish momentum in Tehran's foreign exchange market as the Central Bank of Iran's rescue package appealed to investors…
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Forex Rates Tumble
EghtesadOnline: The Central Bank of Iran’s measures, namely to issue certificates of deposit and launch the presale of gold coins, from Saturday seem to have had an impact on Tehran’s market…
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Iran Targets Currency Exchanges Amid Efforts to Halt Rial Slide
EghtesadOnline: Iranian police clamped down on foreign-exchange offices while the central bank introduced new measures to encourage bank deposits, as a depreciation of the rial threatens to push…
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Tehran Market: US Dollar Scales New Heights
EghtesadOnline: The US dollar hit new highs against the rial on Monday, as the foreign exchange market continued to surprise investors and policymakers who are struggling to accept record forex…
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Forex Rally’s Impact on Housing Sector Limited
EghtesadOnline: A housing official has ruled out any immediate impact of the ongoing rally in the foreign exchange market on home prices but says that in the medium term, a weaker rial would…
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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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Tehran Currency Market: Forex Rates Rally Once Again
EghtesadOnline: Tehran’s foreign exchange market on Wednesday heated up again, as the rial weakened 1.1% and was quoted at 46,190 against the dollar. The greenback had backtracked slightly earlier…
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Greenback Loses Momentum
EghtesadOnline: After surging against the rial in early trade, the greenback lost momentum on Monday in what would be a win for the Central Bank of Iran’s policy of preventing the further depreciation…
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Tehran Currency Market: Dollar Rally Loses Momentum
EghtesadOnline: After days of rallying against the rial in Tehran's foreign exchange market, the US dollar is showing signs of losing momentum.