Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said on Tuesday that crossing out four zeros from national currency, Rial, will have no impact on inflation rate adding that the central bank is ready to implement the plan.
The value of Iranian rial is recovering against the U.S. dollar as the Central Bank of Iran (CBI) policies for shielding the currency against the U.S. sanctions are taking effect.
The Iranian local currency the rial has regained almost 10% of its value against foreign currencies, especially the US dollar over the past few days.
According to the request of the Central Bank of Iran (CBI), the economic committee of the cabinet has on agenda the plan to eliminate four zeros from the national currency rial and to introduce a new one.
Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said on Mon. that removing four zeros off national currency ‘rial’ will take about two years. The proposed bill for lopping four zeros off rial requires approval of both the government and the Parliament, he said, adding, “economic experts estimate that launching this task will take […]
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. In January-November 2018, 1.894 million Iranian tourists visited Turkey, which is 18.17 percent less than in the same period […]
India’s Shipping Secretary Gopal Krishna said the country is weighing a rupee-rial payment mechanism for the Chabahar project in Iran as it weaves a way around the US’s impending sanctions against Iran from Nov. 4, to kickstart the port that is considered critical to the country’s geopolitical and trade interests. According to The Hindu BusinessLine, […]