Iran’s rial has strengthened against the US dollar in the unofficial market mainly on speculations that US President Donald Trump’s sickness could hurt his re-election chances.
Devaluation for the Iranian currency (rial) seems to have come to an end as the Central Bank of Iran (CBI) resumes rationing the US dollar.
Majlis yesterday passed a bill allowing the government to slash four zeros from the rial, after a sharp fall in the value of the currency.
Iranian lawmakers approved on Monday a monetary bill to shave four zeroes off the national currency.
Iran news quotes the story of removing zero from Rial, told by Irandaily. Removing four zeros from the national currency, the rial, will help facilitate people’s financial transactions, said the governor of the Central Bank of Iran (CBI). In an address to an open session of the Iranian Parliament on Sunday, Abdolnaser Hemmati said that […]
Minister of Industry, Mine and Trade Reza Rahmani said that role of Iranian ‘rial’ would be strengthened in financial exchanges with many countries in the world and this issue is of the main macro policies of the government that should be taken into serious consideration. He made the above remark late on Monday among industrialists […]
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. The CBI governor made the remarks after a meeting with economy commission of the Iranian Parliament on Sunday, during which important issues relevant to monetary and currency […]
As Azerbaijani national currency Manat gains strength against Iranian Rial, more people from the northern neighboring country are eager to visit Iran. As the Iranian Rial loses its value against foreign currencies, the costs of services and commodities become cheaper for citizens of neigbouring countries such as Iraq and Azerbaijan, sparking a huge increase in […]
Touching upon the decline of Iran’s Rial value in recent months, Iranian First Vice-President Es’hagh Jahangiri said that these new economic conditions will not be permanent. Saying that the country’s new economic conditions are transient rather than permanent, he added, “if we can manage this situation well and pass through this stage, the country’s economy […]
Governor of Central Bank of Iran Valiollah Seif pointed to the high volume of trade between Iran and China, saying that using Rial and Yuan can overcome problems regarding monetary exchanges. “Regarding the volume of bilateral trade, the use of appropriate payment mechanisms, such as the use of local currencies, can solve financial transactions and […]