Currency Restrictions Unhelpful

Restrictions on foreign currency trade by authorized exchange bureaus have pushed people towards the black market, chief of the founding board of Association of Bureaux de Change Operators of Iran said. 
Asghar Samiei pointed to directives of the Ce…

Restrictions on foreign currency trade by authorized exchange bureaus have pushed people towards the black market, chief of the founding board of Association of Bureaux de Change Operators of Iran said.  Asghar Samiei pointed to directives of the Central Bank of Iran that allows certificated...

Forex Falls in Tehran

Currency rates continued to descend in markets across the country on Wednesday as businesses took some relief from weeks of political bickering in the region. 
The USD fetched 136,000 rials, down 2, 000 rials compared to Tuesday’s close. The euro al…

Currency rates continued to descend in markets across the country on Wednesday as businesses took some relief from weeks of political bickering in the region.  The USD fetched 136,000 rials, down 2, 000 rials compared to Tuesday's close. The euro also fell 2.3% and was exchanged for 153,000...

Clunkers Prohibited From Plying in Major Cities

Clunkers that have outlived their usefulness, but are still operating as private, public or commercial vehicles have been banned from plying in major Iranian cities.
Vali Maleki, a member of Majlis Industries and Mines Commission, said old vehicles …

Clunkers that have outlived their usefulness, but are still operating as private, public or commercial vehicles have been banned from plying in major Iranian cities. Vali Maleki, a member of Majlis Industries and Mines Commission, said old vehicles are limited to cities with a population of less...

Nima Forex Rates Rise

In the fiscal month to May 22, almost €۲٫۱۶ billion in foreign currency was sold via the Integrated Forex Deals System, locally known as Nima, IRNA reported. In the same period currency rates in Nima also soared.
Nima is a secondary market developed…

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 currency rates in Nima also soared. Nima is a secondary market developed by the Central Bank of Iran to be used as a...

French Finance Minister: Europe Under US Pressure Over INSTEX

European powers are facing huge pressure from the United States to drop its proposed trade channel with Iran and it will also not succumb to ultimatums from Tehran, French Finance Minister Bruno Le Maire said on Tuesday, Reuters reported.
Britain, F…

European powers are facing huge pressure from the United States to drop its proposed trade channel with Iran and it will also not succumb to ultimatums from Tehran, French Finance Minister Bruno Le Maire said on Tuesday, Reuters reported. Britain, France and Germany (E3), which signed a 2015...

Foreign Investment in Iran Industries Down 67%

Iran approved $914.45 million worth of foreign investments during the period from March 2018, to February 2019, which shows a 67.4% decline compared to the $2.8 billion a year ago.  
The foreign funds were invested in 65 plus industrial, mining, and…

Iran approved $914.45 million worth of foreign investments during the period from March 2018, to February 2019, which shows a 67.4% decline compared to the $2.8 billion a year ago.   The foreign funds were invested in 65 plus industrial, mining, and trade projects during the period. Although...

No Buyers for Oil Offer via IRENEX

National Iranian Oil Company found no buyers at its 10th round of crude oil offer on the Iran Energy Exchange, despite the Oil Ministry’s efforts to improve the purchasing terms, IRENEX data shows. 
NIOC offered two million barrels of light crude oi…

National Iranian Oil Company found no buyers at its 10th round of crude oil offer on the Iran Energy Exchange, despite the Oil Ministry's efforts to improve the purchasing terms, IRENEX data shows.  NIOC offered two million barrels of light crude oil at a base price of $67.28 per barrel on...

Deadline Extended for Selling Shares of 5 Merged Banks

According to a notice by Central Bank of Iran, the previous deadline for selling shares of five merged banks and credit institutions has been extended for 15 working days ending on June 13. 
The CBI in March announced a plan to merge Ansar Bank, Ban…

According to a notice by Central Bank of Iran, the previous deadline for selling shares of five merged banks and credit institutions has been extended for 15 working days ending on June 13.  The CBI in March announced a plan to merge Ansar Bank, Bank Hekamt Iranian, Mehr Eqtesad Bank, Ghavamin...

Afghanistan Bans Iran’s Arian Bank

The Central Bank of Afghanistan has annulled the operating license of the only Iranian bank which was active in that country.
Arian Bank started its operations under a joint venture between Bank Melli of Afghanistan Iran’s Sedarat Bank in 2004.
How…

The Central Bank of Afghanistan has annulled the operating license of the only Iranian bank which was active in that country. Arian Bank started its operations under a joint venture between Bank Melli of Afghanistan Iran’s Sedarat Bank in 2004. However, officials at the Central Bank of...

Persian Gulf Insurance Rates Rise

Lloyd’s of London insurance market has widened its list of areas in and around the Persian Gulf posing “enhanced risk for marine insurers” after attacks on ships off the UAE.
Lloyd’s said that the Persian Gulf, part of the Gulf of Oman, Oman and the…

Lloyd's of London insurance market has widened its list of areas in and around the Persian Gulf posing "enhanced risk for marine insurers" after attacks on ships off the UAE. Lloyd's said that the Persian Gulf, part of the Gulf of Oman, Oman and the United Arab Emirates had been added to the...