The US dollar weakened across the board as investors reacted to the rising US national debt. In a statement during the weekend, the Congressional Budget Office (CBO).
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.
Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven US dollar which tumbled to multi-year lows.
The rate of US dollar in the Iranian market witnessed a significant drop of 20,000 rials on Tuesday, to continue its declining trend for the second consecutive day.
Iran switches to currencies other than the US dollar and it's showing the first signs of paying off and rising foreign trades.
TEHRAN (Iran News) – President Recep Tayyip Erdogan called on Turks to convert their foreign currency to Turkish lira, asking them to “leave the dollar”. “Leave the dollar and the rest. Let’s convert to our money, the Turkish lira. The Turkish lira doesn’t lose value anymore. Let’s show our patriotism like this,” Erdogan said, World […]
TEHRAN (Iran News) – Head of Plan and Budget Organization of Iran said Sunday that Iran’s budget for the next fiscal year still defines the exchange rate for importing basics remains at 4200 tomans to $1. Mohammad Bagher Nobakht said the draft of the country’s budget for the next fiscal year was submitted to the […]
Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said the country uses the national currencies in the trade transactions with Russia and Turkey.
Richard Nephew, who served as the lead sanctions expert for the US team negotiating with Iran, is of the opinion that “Sanctions have been part of US foreign policy since the beginning of the Republic.”
Iranian Foreign Minister Mohammad Javad Zarif said Sunday that talks are underway with a number of countries including Turkey, Russia, and China, to sign or finalize mutual monetary treaties.