• 5-6% Flexibility in USD Rate Until March

    Governor of the Central Bank of Iran said the exchange rates of the US dollar, which were unified at 42,000 rials last month, will not remain fixed and change 5-6% until the end of the current fiscal year on March 20, 2019. 
    Valiollah Seif, who was addressing a gathering of bank chief executives on Sunday, added that CBI will act according to the inflation rate when it comes to determining the forex rate, IBENA reported. 
    The forex unification came on the heels of a sharp slide in the value of rial.
    According to the CBI measures, the US dollar for all purposes, including imports, travel, overseas students and research projects, will be offered by the government at the exchange rate of 42,000 rials. 
    The announcement was later followed by other measures approved by the Cabinet and subsequently notified by CBI. 

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.

  • New Check-Processing System Postponed
    The Central Bank of Iran has delayed until September the implementation of a new scheme to streamline its check-processing system to give banks more time to adapt, a central bank official said....
  • Investment Guarantees for SMEs Register 28% Growth
    Iran’s small- and medium-sized enterprises saw a 28% year-on-year increase in the value of investment...
  • Airbus has delivered only three of the 100 planes Iran has ordered from the European airline consortium.
    From airplanes to oilfields, billions of dollars are on the line for international corporations, as...
  • Housing Sector Recovery Linked  to Ancillary Factors
    The Ministry of Roads and Urban Development is upbeat about buttressing the signs of recovery in Iran’s housing sector during the current fiscal year (started March 21), but also concedes that...
  • The decision to unify the dollar’s exchange rate at 42,000 rials was made in the wake of a sharp slide in rial’s value.
    The government is committed to meeting all hard currency needs, including the ones that exceed the current caps devised in the wake of the foreign exchange rate unification implemented last month,...
  • About 1.1 billion shares valued at $84.1 million changed hands at TSE on May 6.
    Tehran Stock Exchange’s main index lost 250.67 points or 0.27% on Sunday compared to the day before to end trade at 92,849.9. About 1.1 billion shares valued at $84.1 million changed hands at TSE...
  • Two Steel Projects  Inaugurated in N.E.
    Two iron ore processing plants were inaugurated on Sunday in a ceremony attended by President Hassan Rouhani and Minister of Industries, Mining and Trade Mohammad Shariatmadari. The projects...
  • About 49.3 billion cigarettes were produced in Iran during the last fiscal year (March 2017-18), registering a 10% rise compared with the year before.
    Iranian Tobacco Company has signed a memorandum of understanding with Pishgaman Pakhsh Arman Gostar Company as the representative of Philip Morris International to import and jointly produce...
  • CII Ready to Promote Cyber Insurance
    The Central Insurance of Iran, the industry’s regulator, welcomes offers by Iranian insurers to provide coverage against cyber assaults, CII’s president said. “The insurance industry considers any...
  • Gold Coin Surges
    As the price of all gold coins continued to rise in Tehran’s market, the Central Bank of Iran...
  • Currently, a total of 461 types of securities are being traded on Iran’s capital market, 390 of which are shares in companies and investment funds.
    Most share prices have dropped to record lows, but fears of US sanctions snapping back and a discontent with foreign exchange rates seem to keep traders rooted in place. Currently, a total of 461...
  • TSE Reopens 39 Shares, Closes 29 in 1 Month
    Tehran Stock Exchange reopened 39 frozen stock tickers and barred 29 others from trade during the first month of the current fiscal year (March 21-April 20), according to the latest TSE data.  The...
  • Top government officials and private sector players convened at Donya-e-Eqtesad’s headquarters in Tehran on Saturday to discuss the conference’s objectives and scopes. (Photo: Amir Pourmand)
  • About 3.6 billion shares valued at $239.66 million changed hands at TSE on May 5.
    Tehran Stock Exchange’s main index lost 511.43 points or 0.55% on Saturday compared to the day before to end trade at 93,100.7. About 3.6 billion shares valued at $239.66 million changed hands at...
  • The IMF estimates gross official foreign exchange reserves at a high $111.7 billion in 2017.
    Capital Intelligence Ratings (CI Ratings), the international credit rating agency, said Iran’s current account surplus is expected to have increased to 4.5% of GDP in 2017, which was 4% in 2016...
  • Most Iranian Mines Lack Safety Facilities
    Over 87% of Iranian mines lack standard safety, health and environmental facilities, according to an official report published by the Ministry of Cooperatives, Labor and Social Welfare. Surveying...
  • Exchange-Listed Firms’ Capital Raising Expands 44.5 Percent
    Publicly-traded companies on Tehran Stock Exchange and Iran Fara Bourse had a total of 9.6 trillion rials ($237.3 million) added to their share capitals during the first month of the current fiscal...
  • Swiss Sovereign Money Initiative Set for Failure
    A radical “sovereign money” plan that would upend Switzerland’s traditional monetary system appears headed for...
  • Iranians placed a lot more bets on gold in the first quarter of 2018.
    Iran's gold demand more than tripled in the first quarter of 2018 while Saudi Arabia's dropped 15%, data released by the World Gold Council show.  Iranians placed a lot more bets on gold in the...
  • Telecoms Giant MTN Faces Profit Repatriation Problem
    South Africa-based multinational mobile telecommunications company MTN faces the risk of...
  • Foreign Insurance Dealings in Euro
    Iran is determined to sideline the US dollar in its financial dealings for the past few years and the country’s insurance industry is no exemption, as it has emphasized a shift toward euro both on...
  • Over 2.35 billion shares valued at $144.6 million were traded on TSE last week, registering a 42% and 36% decline compared to the week before.
    Uncertainty is in the air these days for Iran’s financial markets, especially stocks.  Recent upheavals in the foreign exchange market, coupled with the looming political risks, have all but...
  • Tourism Bank Returns to IFB
    After an 18-month hiatus, Tourism Bank returned to trading on Iran Fara Bourse on Tuesday, making it the first IFB-listed lender to unfreeze its shares in the current fiscal year (started March 21...
  • The logo of the new Joon lower-cost airline is pictured on a plane scale model during a news conference in Paris, France, on Sept. 25, 2017. (File Photo)
    Air France is cutting its Joon subsidiary’s service between Paris and Tehran to the summer...
  • Forex Lenders Expand
    The Central Bank of Iran has allowed Tejarat, Parsian and Mellat banks to join their peers Melli and Saman in operating as the authorized lenders of hard currency to importers, outbound tourists...