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Iranian Rial


VIZIOIRAQI
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On 6/6/2018 at 4:40 PM, pokerplayer said:

Ratz, oh well it was a gamble at best.  :(

 

   pp

 

Yup, it was either this or blowing it all in Vegas as I would had gone nuts anyways lol :lol::cheesehead:

 

On 6/6/2018 at 11:10 PM, markb57 said:

hang tight. in the world of big politics and bigger money, things can change overnight. we wait.....

 

I'll give it until Christmas of this year before I say, " AAAAAAAAH The hell with it!!!  MORE DAMN WHISKEY PLEEEEEEEASE!!!" :facepalm2::drunk: 

And where's our good ol' brother Screwball these days?:shrug:

 

8 hours ago, WheresmyRV? said:

I'm selling my Rial on ebay this week, I just don't see this happening in my lifetime as long as that country is run by an evil regime.

 

Totally understood, yet who the hell knows if anything will ever happen at all........see ya' at the bar buddy. :drunk:

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7 hours ago, Freedomwish said:

 

 

 

 

Totally understood, yet who the hell knows if anything will ever happen at all........see ya' at the bar buddy. :drunk:

My only hope is with the IQD now and even then this year looks like its a wash with all the election bs that's been going on, Im thinking its gonna take until the end of the year to finally announce a winner and for them to build their new government. :rocking-chair:  

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https://www.middleeastmonitor.com/20180612-iran-china-use-their-currencies-for-joint-trade-exchange/........

trade exchange

 
Dr Masoud Karbasian, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, 17 February, 2018 [Wikipedia]
Dr Masoud Karbasian, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, 17 February, 2018 [Wikipedia]
 
June 12, 2018 at 9:42 am
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Iranian Minister of Economy and Finance Masoud Karbasian announced yesterday that Iran and China are using their national currency for a joint trade exchange.

According to the official IRNA news agency, Karbasian said: “Four memorandums of understandings have been signed with China, including one that was signed by the Iranian Ministry of Economy with China’s Infrastructure Development Organisation, and which provides for the utilisation of their financial resources for joint investment and the use of their currency in trade exchanges.”

The Iranian minister pointed out that there is a road map in which the share of either side of the trade exchange was drawn.

He added: “The second memorandum of understanding provides for technical and scientific cooperation in addition to another which was signed regarding cooperation in the field of financial and bond markets.”

READ: China’s Xi backs nuclear deal in talks with Iran leader

The fourth memorandum of understanding, according to the same source, provides for bilateral cooperation in the field of combating drugs and organised crime.

Karbasian continued: “The two sides discussed ways to strengthen cooperation in various economic fields, including banking cooperation, oil and petrochemicals, as well as increasing the extent of trade exchange.”

China is the largest importer of Iranian oil, and the United States has threatened to impose fines on it as a part of sanctions it has threatened to levy on Iran after it pulled out of the nuclear deal signed between Tehran and the P5+1 countries.

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Wait.........ummm, what? :blink:

After North Korea, Trump now wants a 'real deal' with Iran

https://www.cnbc.com/2018/06/12/trump-said-he-wants-a-real-deal-with-iran-now.html?yptr=yahoo

 

"I hope that they're going to come back and negotiate a real deal because I'd love to be able to do that but right now it's too soon to do that," Trump said.

giphy.gif

 

:blink::blink::blink::blink:..........:shrug:

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  • 3 weeks later...
On 6/7/2018 at 12:34 PM, WheresmyRV? said:

I'm selling my Rial on ebay this week, I just don't see this happening in my lifetime as long as that country is run by an evil regime.

 

 

With the current developments WheresmyRV, I hope you did not, or at least have a few still. Kind of wish SB would show and give us his take on the latest developments.

 

  JMH :twocents:

 

   pp

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On 6/7/2018 at 2:34 PM, WheresmyRV? said:

I'm selling my Rial on ebay this week, I just don't see this happening in my lifetime as long as that country is run by an evil regime.

 

The ONLY encouragement in the rial investment is that many articles are coming out talking about the mullahs possibly being overthrown and change coming to iran 

 

Still many months/year?  to go for currency change though 

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5 minutes ago, climber7 said:

 

The ONLY encouragement in the rial investment is that many articles are coming out talking about the mullahs possibly being overthrown and change coming to iran 

 

Still many months/year?  to go for currency change though 

 

 

Possibly climber7. Who's to really know ? I value your opinion as all I ever see you do is ask honest, valid questions as well as give reasonably good thoughts on certain posts. It looks like we should have a semi quasi  idea tomorrow I guess.

 

   pp

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35 minutes ago, pokerplayer said:

 

 

Possibly climber7. Who's to really know ? I value your opinion as all I ever see you do is ask honest, valid questions as well as give reasonably good thoughts on certain posts. It looks like we should have a semi quasi  idea tomorrow I guess.

 

   pp

 

 

Thanks PP

Back atcha--I mean that! 

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On 6/6/2018 at 11:10 PM, markb57 said:

hang tight. in the world of big politics and bigger money, things can change overnight. we wait.....

What I meant by the big politics was the push for the regime change. The younger group in Iran want the pre 80's days again. They're broke and want to have a decent life again. Getting rid of the mullahs would do this and maybe kick start their economy. How long this would take, who knows. We wait or at least I will a little longer....

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On 6/12/2018 at 11:33 AM, blueskyline said:

https://www.middleeastmonitor.com/20180612-iran-china-use-their-currencies-for-joint-trade-exchange/........

trade exchange

 
Dr Masoud Karbasian, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, 17 February, 2018 [Wikipedia]
Dr Masoud Karbasian, Minister of Economic Affairs and Finance of the Islamic Republic of Iran, 17 February, 2018 [Wikipedia]
 
June 12, 2018 at 9:42 am
8
SHARES
 

Iranian Minister of Economy and Finance Masoud Karbasian announced yesterday that Iran and China are using their national currency for a joint trade exchange.

According to the official IRNA news agency, Karbasian said: “Four memorandums of understandings have been signed with China, including one that was signed by the Iranian Ministry of Economy with China’s Infrastructure Development Organisation, and which provides for the utilisation of their financial resources for joint investment and the use of their currency in trade exchanges.”

The Iranian minister pointed out that there is a road map in which the share of either side of the trade exchange was drawn.

He added: “The second memorandum of understanding provides for technical and scientific cooperation in addition to another which was signed regarding cooperation in the field of financial and bond markets.”

READ: China’s Xi backs nuclear deal in talks with Iran leader

The fourth memorandum of understanding, according to the same source, provides for bilateral cooperation in the field of combating drugs and organised crime.

Karbasian continued: “The two sides discussed ways to strengthen cooperation in various economic fields, including banking cooperation, oil and petrochemicals, as well as increasing the extent of trade exchange.”

China is the largest importer of Iranian oil, and the United States has threatened to impose fines on it as a part of sanctions it has threatened to levy on Iran after it pulled out of the nuclear deal signed between Tehran and the P5+1 countries.

https://financialtribune.com/articles/economy-business-and-markets/89264/irans-secondary-forex-trade-starts-as-exchangers-remain.........

Thursday, July 05, 2018

Iran's Secondary Forex Trade Starts as Exchangers Remain on Hold

Exchange shops are active and do their business in the area of foreign exchange hawalas but a decision about whether they can trade in physical currency will be announced at a later time
Seif noted that the secondary market would initially be used for the import of goods and services, but will later be tapped for other purposes
 

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

Governor of the Central Bank of Iran Valiollah Seif told reporters on Wednesday that the market has started trading at negotiated rates, but dismissed reports suggesting that exchange shops will also regain their former status from Saturday. 

"Exchange shops are active and do their business in the area of foreign exchange hawalas but a decision about whether they can trade in physical currency will be announced at a later time," Seif was quoted as saying by the official news agency IRNA. 

Asked what role exchangers would play in the newly-launched secondary market, Seif said moneychangers could act as intermediaries between exporters and importers.

Very Interesting Together .....................
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10 minutes ago, pokerplayer said:

Interesting developments to say the least. Still scratching my head foreign secondary exchange market comments. Just what is that exactly ??  :confused::confused2:

 

pp

 

I'd say let's continue to wait it out all the way and as far as it goes......hope to see ya in Canada, Dubai or in Australia with brother Screwball if he pops in to let us know he's good and ok. 👍

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Just now, Freedomwish said:

 

I'd say let's continue to wait it out all the way and as far as it goes......hope to see ya in Canada, Dubai or in Australia with brother Screwball if he pops in to let us know he's good and ok. 👍

 

I with you on that one my friend. Enjoy !

 

  pp

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In my far off opinion  and huge guess . This secondary exchange market might have a new currency from Iran with an asset backing . I'm guessing that because we all know the exchange rate of the physical Rial is way down and has no value to negotiate, The exchange bureaus are barred from trading in hard currency , The CBI is saying the exchange bureaus wont retain their former status .But they could act as intermediaries between importers and exporters . So . I'm guessing this is a new currency with an asset worth negotiating for . A digital currency is my guess . 

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1 minute ago, blueskyline said:

In my far off opinion  and huge guess . This secondary exchange market might have a new currency from Iran with an asset backing . I'm guessing that because we all know the exchange rate of the physical Rial is way down and has no value to negotiate, The exchange bureaus are barred from trading in hard currency , The CBI is saying the exchange bureaus wont retain their former status .But they could act as intermediaries between importers and exporters . So . I'm guessing this is a new currency with an asset worth negotiating for . A digital currency is my guess . 

 

Interesting concept Bsl. I don't even have a clue so its all good at the moment till a news release says otherwise.

 

  Thxs for sharing

 

   pp

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On 7/5/2018 at 10:22 PM, pokerplayer said:

 

 

With the current developments WheresmyRV, I hope you did not, or at least have a few still. Kind of wish SB would show and give us his take on the latest developments.

 

  JMH :twocents:

 

   pp

Nah I havent sold mine yet, been too busy as of late. 

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  • 2 weeks later...

Ready to dump mine....

 

29 July 2018 - 10H48

Iran's rial hits record-low 100,000 to the dollar

 
f75a0ed18dd5a44b4bcc8b1f7e86d8018026270e © AFP | The Iranian rial hit a new record against US dollar pn July 29, 2018 with an unofficial rate of 102,000 rials to the greenback

 

TEHRAN (AFP) - 

Iran's currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full US sanctions. 

The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the Iranian currency. 

The rate was confirmed by a trader who spoke on condition of anonymity to AFP. 

The rial has lost half its value against the dollar in just four months, having broken through the 50,000-mark for the first time in March. 

The government attempted to fix the rate at 42,000 in April, and threatened to crackdown on black market traders. 

But the trade continued with Iranians worried about a prolonged economic downturn turning to dollars as a safe way to store their savings, or as an investment in the hope the rial will continue to drop. 

With banks often refusing to sell their dollars at the artificially low rate, the government was forced to soften its line in June, allowing more flexibility for certain groups of importers. 

The handling of the crisis was one of the reasons behind last week's decision by President Hassan Rouhani to replace central bank chief, Valiollah Seif. 

The currency collapse was encouraged by the US announcement in May that it was pulling out of the 2015 nuclear deal, that lifted certain sanctions in exchange for curbs to Iran's atomic programme. 

The US is set to reimpose its full range of sanctions in two stages on August 6 and November 4, forcing many foreign firms to cut off business with Iran. 

 

http://www.france24.com/en/20180729-irans-rial-hits-record-low-100000-dollar

 

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