• 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.

  • Subsidized Currency for Specified Imports
    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...
  • Tehran to Host  Iran-Europe Forum
    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.
    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...
  • Women’s participation in the labor force in Iran is low.
    Iran has made tremendous strides in eliminating gender gaps in education and health indicators.
  • Maskan Loans to Support Middle-Income Iranians
    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...
  • Gold Presales Moving Long Term
    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
    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...
  • Iranian Financial Institutions Barred From Using Crypto-Currencies
    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...
  • TSE Benchmark Down 0.27% in Saturday Trade
    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
    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)
    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...
  • Online Forex System to Help Promote Transparency
    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
    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
    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
    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
    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...
  • Passing Judgment on Forex Decision Premature
    It is too soon to pass judgment on the administration’s decision to fix the US dollar’s exchange rate at 42,000 rials, the deputy economy minister for banking and insurance said. Abdolrahman Nadimi...
  • Ferrochrome Plant Opens in Kerman Province
    A ferrochrome plant with a 60,000-ton per year capacity was inaugurated in Kerman Province’s Rafsanjan Special Economic Zone on Thursday.  Launched in the fiscal 2014-15, the project was...
  • Coal Concentrate Output Up 12%
    Iran’s two major coal production companies had a total output of 675,808 tons of coal concentrates in the last fiscal year (ended March 20, 2018), indicating a 12% rise year-on-year, the Iranian...
  • TCCIM chief, Masoud Khansari (C), meets Sweden’s Ambassador to Iran Helena Sangeland in Tehran on April 18.
    As a Swedish business delegation met with their Iranian counterparts at the Tehran Chamber of Commerce, Industries, Mines and Agriculture on Wednesday, the ambassador of the Scandinavian nation...
  • New Credit Card Scheme  to Support Local Products
    Iran’s banking system is now preparing a new credit card scheme for supporting locally produced goods, following a previous plan that failed to take off. “In the meetings that we had with state-...
  • Over 9.7 billion shares valued at $498.4 million were traded on TSE during last month.
    Coming out of a relatively good year, Tehran stocks had a tumultuous month ridden with ambiguities in the first month of the new fiscal year, Farvardin (March 21-April 20). TSE’s main index TEDPIX...
  • Iran’s Largest Holding Seeks Gov’t Help to Finance Delayed Projects
    Iran’s largest holding, the financially troubled Social Security Investment Company, also known by its Persian acronym Shasta, has called on the government to help finance several infrastructural...
  • Revised Rules for Private Bank Ownership Ratified
    Lawmakers have revised regulations for the ownership of non-governmental banks and credit institutions, which will remove ambiguities surrounding the ownership of these entities in the past. ...
  • Flat Steel Import Slows on Currency Rate Issues
    Flat steel import trade in Iran has been almost non-existent in the past several weeks, because...