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On ‎3‎/‎18‎/‎2018 at 4:15 AM, screwball said:

Remember president said single forex rate by March 21...

 

On ‎3‎/‎18‎/‎2018 at 4:16 AM, screwball said:

Give or take a few weeks..

 

:praying::praying::praying:

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On ‎3‎/‎18‎/‎2018 at 2:15 AM, screwball said:

Remember president said single forex rate by March 21...

 

That's right !! Thxs SB, I had forgot all about that. Just around the corner now. I am pumped !!

 

   pp

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 Now, if they can move the decimal

30-spaces to the left....

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2 minutes ago, gregp said:

 Now, if they can move the decimal

30-spaces to the left....

 

And sooner the better I might add  lol

 

  pp

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On ‎2‎/‎26‎/‎2018 at 1:04 AM, screwball said:

March 21 deadline let’s see what happens 

 

On ‎3‎/‎18‎/‎2018 at 2:16 AM, screwball said:

Give or take a few weeks..

 

Well tomorrow is the 21st. Here's hoping !  :crossedfingers::cheesehead:

 

pp

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Not mine, brought over by Butifldrm but felt it was relevant to this thread.

 

  pp

 

 

 

the Iranian currency is falling to its lowest level

Iranian currency is at its lowest level
 
 Twilight News    
 
 8 hours ago
 

 

The Iranian currency fell to its lowest level on Monday, as the dollar peaked above 50,000 riyals for the first time, while analysts said this was due to the stern US position on Tehran.

The riyal lost about a quarter of its value in the last six months to reach $ 50,860 riyals, according to the Financial Information Market, a reliable website tracking open market volatility.

The gap continued to widen with the official exchange rate of 37686 riyals on Monday.

The Iranian government took tough measures last month to stem the devaluation of the local currency on the open market, where it arrested foreign currency traders, froze speculators' accounts, raised interest rates and bought millions of dollars in an effort to curb its rise.

Many analysts believe the United States will withdraw from the nuclear deal reached with Iran in 2015 when it is due to be renewed in May, which means re-imposing sanctions, which have greatly affected the Iranian economy.

Iranian officials have complained that citizens are racking up billions of dollars at a time when local banks are short of liquidity.

The devaluation of the currency is a key problem for the government of President Hassan Rowhani, who was hoping to attract large foreign investment after the nuclear deal.

The collapse of the currency would be another expulsive factor for potential investors, who already face major hurdles as a result of US sanctions unrelated to the remaining nuclear file.

 
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Dinar Vets Message Board

Breaking: Iran Government Unifies Foreign Exchange Rates

By blueskyline, 20 minutes ago in Iraq & Dinar Related News 

 

https://financialtribune.com/articles/economy-business-and-markets/84388/breaking-iran-government-unifies-foreign-exchange-rates........

Tuesday, April 10, 2018

Breaking: Iran Government Unifies Foreign Exchange Rates

 
 
 

Iran's government decided to finally put an end to the dual foreign exchange regime, in an attempt to control the bullish foreign exchange and gold markets and promote safety of foreign investments.

The decision was made during an emergency meeting presided by President Hassan Rouhani on late Monday after the US dollar and almost all other foreign currencies hit new record highs against the rial in Tehran's market.

According to Vice President Es'haq Jahangiri who addressed the nation, the US dollar will be offered only at the unified rate of 42,000 rials to everyone as of Tuesday morning and anyone engaging in dealings with any other rate will be violating the law and committing an act of smuggling.

Iran has been operating two exchange rates: a free market rate and an official exchange rate which was set by the Central Bank of Iran on a daily basis and used for state transactions. The government has been working for years to gradually increase the official exchange rate and bring it closer to the free market rate. In order to reach that goal, it has also been shrinking the list of imported items eligible to receive foreign currencies at official rates.

On Monday, the rial's depreciation continued and the currency was quoted at 60,150 to the dollar in the open market, according to Tehran Gold and Jewelry Union's website.

"I assure the people the the government is capable of providing enough foreign exchange resources to the market," Jahangiri added in his address.

He also referred to the government's post-sanctions achievement in attracting billions of dollars in foreign finance resources to the country, and said, "The government is determined to preserve the stability of the economy."

Topics
............. Hey Screwball . Time to get back at it Chief . What do you think is there next move ?
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Not mine, Yota posted. Thought it should be here as well.

 

 
Tuesday, April 24, 1439 - April 10, 2018
9d7ffe53-cc65-4e56-95ed-b2ec7e74a0b4_16x
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Dubai - Arabian.Net

The Central Bank of Iran banned more than € 10,000 from foreign currenciesoutside banks and threatened to sue those who violated the new rules.

The government has unified the price of the official riyal and its price in the parallel market at 42 thousand riyals to the dollar, while the official price before raising it at 37 thousand riyals to the dollar.

The move comes after the fall of the # Iranian riyal in the parallel market in recent days to its lowest levels ever, exceeding 55 thousand riyals to the dollar.

The sharp fall in the riyal market comes in parallel with growing fears that the United States will emerge from the nuclear deal.

Consolidation of the official price, the subsidized price in government institutions and some priority commodity importers with the parallel market price, will revive the black market of the Iranian riyal as speculators will try to take advantage of the high demand for the dollar under a single price that does not reflect real demand.

 

 

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TEHRAN : Iran on Tuesday took drastic steps to control the exchange rate of the Iranian riyal against the dollar in an effort to stop its decline after losing about a third of its value in six months.

The riyal has fallen several times in recent weeks to 58650 against the dollar as financial transactions close on Monday, as uncertainty over the future of a nuclear deal signed by Iran with major powers in 2015 is growing.

After an emergency meeting with the government on Monday night, Vice President Yitzhak Jahangiri announced that the riyal exchange rate would be set at a maximum of 42,000 riyals against the dollar, with foreign exchange offices subject to the control of the central bank.

"Unfortunately during the past few days, there have been incidents in the foreign exchange rate that have caused concern to the citizens," Jahangiri told state radio.

"Uneconomical, unwarranted and unforeseen factors" have caused the riyal to fall, despite the strong performance of Iranian exports.

"We should not see such things in an economy that always has a foreign exchange surplus, some say foreign hands have intervened to stifle the economic climate and some say local plots are being hatched to destabilize the country," he said.

US President Donald Trump has threatened to withdraw from the nuclear deal and impose new sanctions on Iran next month if new restrictions are not put on its missile and nuclear programs.

Analysts say the threat has encouraged Iranians to buy the dollar, hoping to sell it later for gains if the riyal collapses.

Jahangiri warned that the sale of currencies at prices higher than the official exchange rate would be considered "trafficking in prohibited items."

"If they offer another exchange rate in the market, the judiciary and security will deal with it," he said.

The riyal has accelerated since mid-October at a time when the dollar was trading at 40,000 riyals after Trump threatened to withdraw from the agreement on Iran's nuclear program.

If the United States withdraws, it is expected to re-impose the current economic sanctions against Iran, which will affect the country's economy and alienate foreign investors.

The authorities have not set a fixed exchange rate for the euro or the pound, which has made significant gains against the Iranian riyal in recent months.

Edited by pokerplayer
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would like to hear some educated opinions on how this is going to play out and how it's going to affect our investment... thx 

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7 hours ago, pokerplayer said:

'The Central Bank of Iran banned more than € 10,000 from foreign currencies outside banks and threatened to sue those who violated the new rules."

:facepalm2:

tenor.gif?itemid=4670263

 

7 hours ago, pokerplayer said:

"If the United States withdraws, it is expected to re-impose the current economic sanctions against Iran, which will affect the country's economy and alienate foreign investors.":facepalm:

giphy.gif

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