89547
Foreign Exchange Trade Starts at Negotiated Rates
Foreign Exchange Trade Starts at Negotiated Rates
Wednesday, July 11, 2018

Iran: Foreign Exchange Trade Starts at Negotiated Rates

The launch of the secondary forex market has given a positive signal to the forex market and caused a relative stability to set in
The news marks a victory for campaigners seeking a free market approach in the secondary market, which initially faced the threat of government rate controls
Wednesday, July 11, 2018

Iran: Foreign Exchange Trade Starts at Negotiated Rates

The secondary foreign exchange market started working in earnest on Tuesday, with reports suggesting that the first trading at a negotiated exchange rate was almost equivalent to that of the open market rate. 
Mohammad Mehdi Raeiszadeh, a banking advisor to Iran Chamber of Commerce, Industries, Mines and Agriculture, said exporters and importers agreed on an exchange rate close to 80,000 rials for hard currency earnings of some non-oil exports, IBENA reported. 
The news marks a victory for campaigners seeking a free market approach in the secondary market, which initially faced the threat of government rate controls. 
On the same day, the rial was reportedly being traded at around 79,000 rials against 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Short URL : https://goo.gl/yDZpZu
07/11/2018
  1. https://goo.gl/6UmL3h
  • https://goo.gl/skA8r1
  • https://goo.gl/4p5xnj
  • https://goo.gl/q7FpQT
  • https://goo.gl/ZvMSp4

You can also read ...

European Gov’ts Exploring Financial Channels for Iran
The French, British and German governments have told Iran they...
EU to Protect Firms in Iran Following US Refusal to Grant Waivers
EU countries on Monday gave European firms legal cover to...
$312m Paid in Travel Currency in 3 Months
A total of $312 million were allocated by the Central Bank of...
Biggest Privatization Bid of the Year Set for July 31
Iranian Privatization Organization is scheduled to stage the...
Cuba Rolling  Out Mobile Internet Services
Cuba has started providing Internet on the mobile phones of...
IMIDRO Outlines Q1 Downstream, Upstream Steel Performance
A total of 11.22 million tons of iron ore concentrate was...
Iran, Ghana Sign Capital Market Deal
Capital market authorities from Iran and Ghana signed a...
Non-Oil Trade With China  Up 10%
Iran traded 7.38 million tons of non-oil commodities worth $5....

Add new comment

Trending

Googleplus