• Jahangiri officially notified the process of repatriation that obligates exporters to return 95% of their currency yields.

    When President Hassan Rouhani’s administration decided to unify Iran’s dual foreign exchange rate regime to prevent further depreciation of its currency on April 9, part of its market control process translated into a measure that has prompted mixed response from the private sector.
    One of the 16 measures approved by the Cabinet following the forex unification decision that set the US dollar rate at 42,000 rials decreed that “all exporters are obligated to repatriate currency proceeds from their exports to the country’s economic cycle based on the framework that will be devised by the Central Bank of Iran”.
    On Monday, First Vice President Es’haq Jahangiri officially notified the process of repatriation that obligates exporters to return 95% of their currency yields–by accepting imported goods, reimbursing currency debts, selling foreign currencies to banks and exchanges, or making deposits in banks–within six months of receiving their customs export permit. A “pricing committee” with the Islamic Republic of Iran Customs Administration will handle and update export prices.
     

Business And Markets

Iran Business And Markets News, Get the latest business news about Iran including banking, stock market, real estate market, steel industry, mining, trade finance, fintech and insurance.

  • Gov’t Weighing Impact of Forex Measures on Trade
    04/24/2018
    The government is assessing the effect of unified exchange rates on the country’s exports and imports to find the best strategy for foreign trade, the head of Trade Promotion Organization of Iran...
  • Institutional Investors Dominate Equity Trading
    04/24/2018
    Institutional investors had the largest share of trading in Tehran’s equity market in the first month of the current fiscal year (March 21-April 20), the latest data showed.
  • The banking system will support small to medium enterprises by providing them with cheap loans.
    04/24/2018
    As per the Iranian New Year’s state tradition, the motto for the current fiscal (started March 20) was announced by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei in his inaugural...
  • 04/24/2018
    First Vice President Es'haq Jahangiri on Monday officially inaugurated the Forex Deals Integrated System, an online system designed to address the country's currency needs and boost transparency...
  • About 486 million shares valued at $34.52 million changed hands at TSE on April 23.
    04/24/2018
    Tehran Stock Exchange’s main index lost 194.67 points or 0.21% on Monday compared to the day before to end trade at 94,299.5. About 486 million shares valued at $34.52 million changed hands at TSE...
  • Subsidized Currency for Specified Imports
    04/24/2018
    The head of Management and Planning Organization has presented the list of imported goods eligible to receive foreign currency at subsidized rates. Mohammad Baqer Nobakht, in letter to the...
  • Banks to Present IFRS-Based Balance Sheets by June
    04/24/2018
    All Iranian banks officially listed in the capital market will devise and present their balance sheets as per the International Financial Reporting Standards, according to the CEO of the state-run...
  • Mouteh Gold Output  at 602 kg Last Year
    04/24/2018
    Mouteh Gold Mine produced 602 kilograms of gold ingots during the previous fiscal year (March 2017-18), registering a 58% growth compared with the year before, according to data released by the...
  • Exporters and even local traders say they have put everything on hold for now until the dust settles on the new normal.
    04/24/2018
    The foreign exchange market recently went in a frenzy, with the rial losing its value against the US dollar on a daily basis.  The government had to intervene to bring back stability by fixing USD...
  • Jahangiri officially notified the process of repatriation that obligates exporters to return 95% of their currency yields.
    04/24/2018
    When President Hassan Rouhani’s administration decided to unify Iran’s dual foreign exchange rate regime to prevent further depreciation of its currency on April 9, part of its market control...
  • Gold Presales Moving Long Term
    04/23/2018
    The Central Bank of Iran, as part of its policy to adopt a long-term strategy in the gold market, has stopped the sale of gold coins with three-month maturities, local media reported on Sunday. ...
  • Kerman to Host 2 Mining Expos in June
    04/23/2018
    Two events focused on mining and construction are slated to be held in Kerman Province. The Sixth International Exhibition of Mine, Mining, Mining Industries Mineral Processing, Decoration Stones...
  • Women’s participation in the labor force in Iran is low.
    04/23/2018
    Iran has made tremendous strides in eliminating gender gaps in education and health indicators.
  • Tehran to Host  Iran-Europe Forum
    04/23/2018
    The Sixth Iran-Europe Banking and Business Forum is to be held in Tehran on April 28-29 at the five-star Espinas Palace. The event, previously held both in Tehran and Frankfurt, will this time...
  • About 552 million shares valued at $29.35 million changed hands at TSE on April 22.
    04/23/2018
    Tehran Stock Exchange’s main index lost 771.53 points or 0.81% on Sunday compared to the day before to end trade at 94,494.3. About 552 million shares valued at $29.35 million changed hands at TSE...
  • Maskan Loans to Support Middle-Income Iranians
    04/23/2018
    As Iran’s beleaguered housing sector continues to show signs of boom after five years of stagnancy and a majority of pundits predict a rise in home prices, Bank Maskan, the nation’s agent bank for...
  • Iranian Financial Institutions Barred From Using Crypto-Currencies
    04/22/2018
    The Central Bank of Iran has officially prohibited all financial institutions, including banks and credit institutions, from handling cryptocurrencies. According to a statement published on CBI's...
  • Online Forex System to Help Promote Transparency
    04/22/2018
    Governor of the Central Bank of Iran has provided further details about the new Forex Deals Integrated System, noting that it will reposition banks as the main market player, promote transparency...
  • Iran to Help Develop Iraqi Military Industry
    04/22/2018
    Iraqi Acting Minister of Industry and Minerals Mohammad Shia al-Sudani and Iranian Defense Minister Amir Hatami signed a cooperation agreement on military industrialization in the Iraqi capital...
  • Survey Over Willingness to Buy Domestic Products
    04/22/2018
    More than 63.9% of Iranians are willing to purchase locally-made products provided they have satisfactory quality and reasonable prices, a survey conducted by Iranian Students’ Polling Agency...
  • Banks to Decide FX Deposits’ Interest Rates
    04/22/2018
    The Central Bank of Iran has focused on encouraging people to entrust their foreign currency banknotes to the banking system and according to the regulator’s director of the Department for Foreign...
  • CBI: Gold Coin Prices Will Balance Out
    04/22/2018
    The Central Bank of Iran expects gold coin prices to approach their real levels in the next few weeks, the director of CBI’s Office for Banknote Issuance said. “As presold gold coins gradually and...
  • TSE Benchmark Down 0.27% in Saturday Trade
    04/22/2018
    Tehran Stock Exchange’s main index lost 257.93 points or 0.27% on Saturday compared to the day before to end trade at 95,265.9. About 552 million shares valued at $35.22 million changed hands at...
  • Worldsteel’s Forecasts for 2018-19:  Iran Steel Demand to Surge 5 Percent
    04/22/2018
    In its latest report titled “Short Range Outlook for 2018-19”, the World Steel Association (Worldsteel) forecasts that Iranian steel demand will increase by 5.5% to 21.05 million tons by the end of...
  • Capital Intelligence participated in a gathering hosted by the Center of Investment and Consultancy Services  in tehran on April 21. (Photo: Saeed Ameri)
    04/22/2018
    Having entered a new era after the lifting of most sanctions in early 2016, Iran has aptly understood the importance of making endeavors for modernizing its financial and corporate sectors.  One...

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