• Forex Rates Decline Continues in Tehran Market

    The currency market in Tehran stabilized further on  Sunday with the USD exchange rate dropping below the support level of 14,000 rials. The greenback was traded for 138,000 rials on the open market to post the fourth straight decline. The Euro changed hands for 160,000 rials -- down from 162,400 at the outset of trade. 
    The benchmark Bhar Azadi gold coin fetched 43 million rials ($311) down from the previous day's 44 million rials. The new bearish climate for foreign exchange rates come on the heels of some relatively positive news about economic and political prospects despite the US sanctions slated for Nov.4 approach. 

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.

  • Iran Allocates $3b Pharmaceutical Imports
    10/09/2018
    The Central Bank of Iran governor Abdolnaser Hemmati said more than $3 billion has been earmarked for the import of pharmaceuticals since the beginning of the current fiscal in March, IBENA...
  • Iran Chamber of Commerce Makes New Proposals for Easing Economic Ills
    10/09/2018
    The head of Iran's Chamber of Commerce, Industries, Mines and Agriculture Gholamhossein Shafei outlined 12 solutions to the ongoing currency and economic problems. Private sector officials made...
  • Bank Maskan Loans Reach Record High
    10/09/2018
    As Iran's housing sector is hard at work fighting off a returning recession triggered by the currency crisis, the state-run agent bank of the sector is pumping out facilities faster than ever to...
  • Iran: Herd Behavior Behind Stock Market Rout
    10/09/2018
    The sudden heavy losses in the Tehran Stock Exchange in recent days has bewildered analysts and market players alike who had initially dismissed the phenomenon as a natural correction that would...
  • Iran's Reform Bill Targets CBI, Banking Sector
    10/09/2018
    A major part of the Comprehensive Banking Law targeting the struggling banking system and problems of the central bank has been approved, the head of the Monetary and Banking Committee of Majlis...
  • Iran Parliament Passes Counter-Terror Finance Legislation
    10/08/2018
    Iranian lawmakers on Sunday approved a measure that allows Iran to formally join the International Convention for the Suppression of the Financing of Terrorism, clearing a major hurdle to improve...
  • Call for Establishment of Iran-Iraq Joint Bank
    10/08/2018
    Privately-owned banks have expressed readiness to establish a joint bank with Iraq, said the head of Iran-Iraq Chamber of Commerce. Speaking to IBENA, Yahya Al-e Es’haq said the bank would...
  • ICJ Hearing on Iran Frozen Assets in US Begins on Monday
    10/08/2018
    The International Court of Justice (ICJ), the principal judicial organ of the United Nations, will hold public hearings in the case concerning Certain Iranian Assets (Islamic Republic of Iran v....
  • Tehran Stock Exchange's Main Index Plunges 4%
    10/08/2018
    The rout in Tehran stock markets continued on Monday as risk-averse investors reacted to rumors surrounding Iran's accession to the UN Terrorism Financing Convention in early trade with the safe-...
  • Iran's Tenancy Market Buoyed by Low House Purchasing Power
    10/08/2018
    A notable change in recent years, especially in the past few months, in Iran's housing market has impacted the tenancy market, considerably increasing the number of deals . The common way of...
  • Tehran Stock Exchange Trade Exceeds $5b in 6 Months to September 2018
    10/07/2018
    About 250.97 billion shares and securities worth 723.32 trillion rials ($5.56 billion) were traded in the Tehran Stock Exchange since the beginning of the current fiscal (March 21) during 127...
  • Iran: TEDPIX Continues Slide as Rial Stabilizes
    10/07/2018
    Selling continued on Saturday for stocks, with the Tehran Stock Exchange main gauge, TEDPIX, logging a third straight drop after getting hit by another jump in the rial value and investor...
  • Iran's Housing Sector Rocked by Currency Crisis
    10/07/2018
    After enjoying a short period of growth on the back of stable outlooks and government support, Iran's housing and construction sector has once again contracted in the first six months of the...
  • $2.8b of Non-Oil Export Revenues Sold in Iran's Secondary Forex Market
    10/06/2018
    Figures from the Central Bank of Iran show that foreign currency revenues from non-oil exports from August 7 to October 3 through Nima–the Integrated Forex Deals System launched by the government...
  • Tehran Stocks Posts Weekly Gain Despite Bear Market Entry
    10/06/2018
    Tehran stock exchange's main gauge, TEDPIX, climbed 4,924 points or 3% to during the week to October 3, despite consecutive losses brought the market into bear territory on the last two trading...
  • Iran's Central Bank Governor Discusses Banking Ties in Moscow
    10/06/2018
    During his Moscow tour the CBI boss Abdolnaser Hemmati met his counterpart Elvira Nabiullina to discuss bilateral banking and financial relations, the CBI website reported on Thursday. Hemmati...
  • Central Bank of Iran Gives More Latitude to Money Changers
    10/04/2018
    The Central Bank of Iran on Wednesday allowed currency exchange houses to sell hard currency up to €5,000 to anyone wanting to buy as the bank struggles to stabilize the foreign exchange market...
  • 10/04/2018
    Iran traded 257,483 tons of non-oil commodities worth $153.97 million with Turkmenistan during the first five months of the current fiscal year (March 21-Aug. 22). This marks a 37.8% and 14.75%...
  • TEDPIX Ends Trade Week at 185,559
    10/04/2018
    Tehran Stock Exchange’s main index lost 2,700.15 points or 1.43% on Wednesday to end trading at 185,559.3. About 5.71 billion shares valued at €124.49 million changed hands at TSE for the day....
  • Iran, Germany Private Sectors Take Stock of Trade Challenges
    10/04/2018
    High-level representatives from the private sectors of Iran and Germany convened in Tehran to discuss challenges and come up with mutually beneficial ways of finding solutions to issues created by...
  • DEN Events: Iran Eyes Development of Non-Ferrous Industries
    10/03/2018
    Non-ferrous metals and mining industries in Iran have remained relatively underrated, considering their notable share of non-oil exports—a major focus for the country, especially in view of the...
  • Iran: SEO Working to Empower Capital Markets
    10/03/2018
    A range of new financial products, from Islamic bonds to warrants and insurance-linked securities, are being developed to help give local firms more funding options as US sanctions pile pressure on...
  • TEDPIX Falls in Correction Phase
    10/03/2018
    Stocks lost ground on the Tehran Stock Exchange in a correction phase to cool down recent market overheating, with the benchmark TEDPIX  falling for after nine straight positive sessions. The...
  • Iran's Biggest Mortgage Provider Extends €14b in 3 Decades
    10/03/2018
    Iran's housing and construction sector has received about 2.09 quadrillion rials (over €14b) worth of loans during the past three decades, according to the state-run agent bank of the sector. The...
  • Tehran Currency Market: Rial Rally Continues
    10/03/2018
    The Iranian rial continued its rally on Tuesday after weeks of depreciation had sent it to a series of record low. New gains for the national currency came unexpectedly as people rushed to exchange...

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