• 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.

  • Lead, Zinc Ore Extraction Over 920K Tons
    04/30/2018
    Major Iranian lead and zinc producers extracted 928,932 tons of ores in the last fiscal year (March 2017-18), according to the Iranian Mines and Mining Industries Development and Renovation...
  • TEDPIX Ends Sunday Trade 0.5 Percent Lower
    04/30/2018
    Tehran Stock Exchange’s main index lost 473.72 points or 0.5% on Sunday compared to the day before to end trade at 93,810.7. About 697 million shares valued at $43.75 million changed hands at TSE...
  • Call for More Housing Liquidity
    04/30/2018
    A member of Majlis Economic Commission has called for more liquidity to be directed toward the housing sector, saying that although mortgage rate cuts are likely to help boost the sector’s growth,...
  • Iran, Turkey Eye Bank Card Integration
    04/30/2018
    Following a national currency swap deal that was recently implemented, Iran and Turkey are now pursuing the integration of bank cards in a move aimed at helping the massive flow of tourists...
  • Industrial Parks’ Exports Top $2b
    04/30/2018
    The production units of Iranian industrial parks exported $2.18 billion worth of commodities in the last fiscal year (March 2017-18), IRNA quoted deputy minister of industries, mining and trade,...
  • New Capital Guidelines for Banks
    04/29/2018
    The Central Bank of Iran has released new guidelines for the way banks' capital adequacy ratios are calculated.   
  • Loans Worth $870m for Innovative Firms
    04/29/2018
    The Iranian banking network paid 37.5 trillion rials ($870 million) to 218 knowledge-based companies during the previous Iranian year (March 2017-18). According to data released by the Central Bank...
  • Import Order Registration Resumes
    04/29/2018
    An official with the Trade Promotion Organization of Iran said the registration of import orders has resumed at import registration website (Sabtaresh.tpo.ir), following the government’s new...
  • The Sixth Iran-Europe Banking and Business Forum convened in Tehran on April 28.
    04/29/2018
    When top-level officials and business representatives gathered in Tehran on Saturday as part of the two-day Sixth Iran-Europe Banking and Business Forum, the shadow of US President Donald Trump’s...
  • Developing an Efficient Gov’t Securities Market
    04/29/2018
    The Iranian government is seeking to develop the domestic bond market under the Sixth...
  • ICT Minister Mohammad Javad Azari-Jahromi (C) talks to reporters after a Cabinet meeting.
    04/29/2018
    Minister of Information and Communications Technology Mohammad Javad Azari-Jahromi said on Saturday his ministry has prepared a preliminary prototype of the national virtual currency in...
  • TEDPIX Gives Up 511 Points
    04/29/2018
    Tehran Stock Exchange’s main index lost 511.61 points or 0.54% on Saturday compared to the day before to end trade at 94,284.5. About 460 million shares valued at $21.48 million changed hands at...
  • US Probing Huawei for Possible Iran Sanctions Violations
    04/28/2018
    US prosecutors in New York have been investigating whether Chinese tech company Huawei violated US sanctions in relation to Iran, according to sources familiar with the situation. Since at least...
  • Crypto Ban in Line With Currency Policies
    04/28/2018
    Iran’s minister of communications and information technology has addressed the recent ban on cryptocurrency trade and efforts by the country to develop its own virtual currency.  In a talk with...
  • 04/28/2018
    Iran exported 181,097 tons of zinc products valued at $386.7 million during the previous fiscal year (March 2017-18), dropping 4.9% in tonnage and growing 46.9% in terms of value year-on-year,...
  • President Hassan Rouhani met with top private sector figures on April 26.
    04/28/2018
    President Hassan Rouhani sought to assure the private sector of the long-term effects of the government's new foreign exchange policy, saying the measures are aimed at market stability and...
  • Copper Concentrate Output Tops 1.1m Tons
    04/28/2018
    Mines operated by National Iranian Copper Industries Company produced a total of 1.14 million tons of copper concentrate in the last Iranian year (ended March 20, 2018) to register a 6% rise...
  • Over 4.06 billion shares valued at $226.1 million were traded on TSE last week, growing 113% and 119% respectively compared to the week before.
    04/28/2018
    Tehran’s equity traders faced concerns, as they began the second month of the year with three days of straight losses.  However, Tehran Stock Exchange and Iran Fara Bourse rebounded midweek over a...
  • Tehran Home Prices Up 30%
    04/28/2018
    The Central Bank of Iran has released its latest report on Tehran's housing market, painting a stark picture of the falling number of home sales and price jumps higher than inflation for the first...
  • Tehran, Moscow Step Up Trade Talks
    04/28/2018
    After hinting at a possible free trade agreement between the two oil-rich countries, a Russian delegation said it was in Iran to explore the future for imports. Russian Prime Minister Dmitry...
  • Official Advice for Forex Depositors
    04/28/2018
    Governor of the Central bank of Iran Valiollah Seif has advised foreign currency depositors to be wary of banks’ credibility and behavior when trusting their hard currency with them. Seif referred...
  • MDF Plant Inaugurated in Northwest
    04/28/2018
    Minister of Industries, Mining and Trade Mohammad Shariatmadari inaugurated an MDF panel production plant in East Azarbaijan Province on Tuesday. Adopen Plastic Persian Industrial Company, which...
  • Iran’s rich mineral reserves ranging from iron ore to gold, as well as cheap energy, have attracted interest from foreign investors since western sanctions were lifted under the 2015 nuclear deal signed by Tehran and six world powers.
    04/28/2018
    Iran is finalizing about €2 billion of investment from Europe in copper and steel projects despite threatened new US sanctions, a government official said on Wednesday. "Early talks are also...
  • Iran Steel Output reaches 6.8m Tons, Up 47%
    04/26/2018
    Iranian steel mills produced 6.8 million tons of crude steel in the first quarter of 2018, up 47% compared with last year’s similar period, according to the latest report released by World Steel...
  • About 888 million shares valued at $45.96 million changed hands at TSE on April 25.
    04/26/2018
    Tehran Stock Exchange’s main index gained 219.84 points or 0.23% on Wednesday compared to the day before to end trade at 94,796.1. About 888 million shares valued at $45.96 million changed hands...

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