Forex Rate Unification

The Central Bank of Iran has established an exclusive online system to allocate foreign currencies at cheap government rates to innovative and knowledge-based firms in collaboration with the…

First Vice President Es'haq Jahangiri announced that the new foreign exchange plan, which is intended to address the recent volatility in the currency market, has been approved by the High…

As markets await the government’s new foreign exchange plan to combat the intense volatility, speculation about the contents of the package abounds. 

Mohammad Reza Pour-Ebrahimi,…

Foreign exchange rates in Tehran's unofficial market declined in a sign that the bull run has slowed, following the Central Bank of Iran's announcement that it will soon unveil a package of new…

Abdolnasser Hemmati, the newly-appointed governor of the Central Bank of Iran, said the ongoing volatility in the currency and gold markets is "unusual" and a byproduct of "enemies' conspiracy…

The US dollar's rally in the unofficial foreign exchange market, along with other major currencies, is gaining in intensity. 

Iranian currency hit a record low on Sunday at 100,000…

The Central Bank of Iran has supplied $239 million over the past three months at the official exchange rate to satisfy public demands for foreign currency to pay for medical, educational,…

As the negative consequences of the government’s policy in enacting a single exchange rate for the US dollar are becoming clearer, report from local media suggest that the government is finally…

A third unofficial foreign exchange market has emerged, despite the government's efforts to prevent the turbulent currency market from spiraling out of control, a lawmaker warned.

The Majlis Economic Commission criticized the government’s poor handling of a crisis that hit the hard currency market in April and stressed the need for measures to boost the Secondary Forex…

Confirming rumors of an imminent change in the Central Bank of Iran’s policy to allocate subsidized currency to outbound tourists, the head of CBI’s Forex Policies & Regulations Department…

The government’s policy to allocate dollars and euros to companies at a fixed rate of exchange was the best policy, a deputy minister of economic and finance affairs said.

Hossein Mir-…

Two goals set have been set for the recent establishment of the so-called “Secondary Forex Market”, namely meeting the country’s monetary needs through non-oil exports and setting a non-…

A total of $312 million were allocated by the Central Bank of Iran to people traveling abroad in the roughly three months that has passed since the Iranian government decided to unify the…

Foreign exchange rates in the unofficial market registered gains on Sunday after the government stopped all currency allocation at the unified rate of 42,000 rials. 

The measure to…

The secondary foreign exchange market started working in earnest on Tuesday, with reports suggesting that the first trading at a negotiated exchange rate was almost equivalent to that of the…

As uncertainties loom over the way foreign exchange rates will be set in the newly-launched secondary foreign exchange market, a Central Bank of Iran official said "supply and demand" will be…

Three key lawmakers have asked President Hassan Rouhani to significantly limit the multi-tier foreign exchange system based on which a big portion of imported goods receive their hard currency…

The long-expected secondary foreign exchange market officially commenced work while exchange bureaus remain barred from physical trading in hard currency. 

As markets await the official launch of the "secondary foreign exchange market" in the bourse, officials and merchants alike hope that the measure will provide some respite to the market where…

The Central Bank of Iran on Sunday published the full list of companies that have received foreign exchange for imports at the preferential rate of 42,000 rials. 

Iran's First Vice President Es'haq Jahangiri has sent a directive to all ministries and other related entities, which requires exports to significantly accelerate the process of repatriating…

The government has agreed to consider a business community proposal to recognize a "secondary" foreign exchange market where rates are determined by supply-demand mechanism. 

Seventy days after the government decided to unify the US dollar's exchange rate at 42,000 rials and assure importers that all hard currency needs would be fulfilled at that rate, it is…

The government has curbed the allocation of foreign currency for the import of some commodities and appears set to launch a revised currency policy, Mehr News Agency cited an unnamed bank…