Iranian Rial

[VIZIOIRAQI]

Lifting of sanctions on Iranian banks

 

      Saturday   09   January   2016 | 12:48

 

 

 

 

Nuclear agreement is being implemented smoothly to date and without complications

 

 

Testifies next week's lifting of international sanctions on Iran in regards to bank transfers.Iranians believe that the nuclear agreement is being implemented smoothly to date and without complications.

Read more: http://dinarvets.com/forums/index.php?/topic/214055-lifting-of-sanctions-on-iranian-banks/#ixzz3x3YyFbsa

[new york kevin]

If October 2016 is the month, I will monitor the situation for now. Revisiting it say in June.

[VIZIOIRAQI]

If October 2016 is the month, I will monitor the situation for now. Revisiting it say in June.

October 2016 is the Month for ???  Sanctions on the Rial get lifted Next Week January 2016!

[blueskyline]

I do believe the EU is expecting and depending on us to lift the sanctions at whatever time has been agreed upon . That might be why Iran has been so brazen recently . They know agreements have been made and more than likely wont be pushed back . It looks more and more to me that Iran's investments belong predominantly to the EU and are needed now and  asap. And Iraq's belong to the US . I could be wrong but thats what it looks like to me 

Edited January 13, 2016 by blueskyline

[VIZIOIRAQI]

Iran releases U.S. sailors after brief detention

By Bozorgmehr Sharafedin and Sam Wilkin 1 hour 

.

View gallery

An undated picture released by Iran's Revolutionary Guards website shows American sailors sitting …

By Bozorgmehr Sharafedin and Sam Wilkin

Related Stories

1. Iran holds 10 U.S. sailors; White House expects prompt return Reuters
2. Iran releases US sailors seized in Gulf AFP
3. Iran's Guards say U.S. sailors will probably be released: Tasnim Reuters
4. Iran sought U.S. apology for 'violating' territorial waters: Iranian official Reuters
5. Iran holds 10 US sailors in Gulf AFP
6. Family Share Pack: Our Best Shared Data Plan Sprint® Sponsored 

DUBAI (Reuters) - Iran released ten U.S. sailors on Wednesday after holding them overnight, bringing a swift end to an incident that had rattled nerves days ahead of the expected implementation of a landmark nuclear accord between Tehran and world powers.

Iran's Islamic Revolutionary Guard Corps (IRGC) said it had freed the sailors after determining they had entered Iranian territorial waters by mistake. The sailors had been detained aboard two U.S. Navy patrol boats in the Gulf on Tuesday.

"Our technical investigations showed the two U.S. Navy boats entered Iranian territorial waters inadvertently," the IRGC said in a statement carried by state television. "They were released in international waters after they apologized," it added.

Confirming the sailors' safe release, the Pentagon said there were no indications they were harmed while in Iranian custody.

A carefully worded statement did not explain how the sailors and their two riverine command boats ended up being detained by Iran, saying only that "the Navy will investigate the circumstances that led to the sailors' presence in Iran".

View gallery

An undated picture released by Iran's Revolutionary Guards website shows American sailors sittin …

The sailors were later taken ashore by U.S. Navy aircraft, while other sailors took charge of the boats and headed towards Bahrain, their original destination.

U.S. Defense Secretary Ash Carter said he was pleased the sailors had been freed and appreciated "the timely way in which this situation was resolved".

He added: "I want to personally thank Secretary of State John Kerry for his diplomatic engagement with Iran to secure our sailors' swift return."

IRGC Rear Admiral Ali Fadavi had earlier said that the two U.S. Navy boats entered Iranian territorial waters due to a broken navigation system.

The incident raised tensions between Iran and the United States, which, along with other world powers, reached a deal last year under which Iran will curb its nuclear activities in exchange for the lifting of economic sanctions.

View gallery

U.S. sailors are seen in an undisclosed location in Iran in this handout picture released on Farsnew …

Some conservatives in both countries, enemies since Iran's 1979 Islamic revolution, have criticized the deal that is due to be implemented in the coming days.

NUCLEAR DEAL

Iran's armed forces chief, Major General Hassan Firouzabadi, said the incident should demonstrate Iranian strength to "troublemakers" in the U.S. Congress, which has sought to put pressure on Iran after the nuclear deal.

And at a presidential campaign rally in the United States, Republican frontrunner Donald Trump, who accuses President Barack Obama of being weak on foreign policy, described the incident as "an indication of where the hell we're going".

Attributing the boats' incursion into Iranian waters to a navigation error marked a de-escalation in rhetoric. Earlier, the Guards had said the boats were "snooping" in Iranian territory and said Foreign Minister Mohammad Javad Zarif had demanded an apology from Washington.

 

An undated picture released by Iran's Revolutionary Guards website shows an American sailor sitt …

The IRGC, the Islamic Republic's praetorian guard, is highly suspicious of U.S. military activity near Iran's borders and many senior officers suspect Washington of pursuing regime change in Tehran.

The Guards operate land and naval units separate to the regular armed forces and stage frequent wargames in the Gulf, which separates Iran from its regional rival Saudi Arabia and a U.S. naval base in Bahrain.

Last month, the U.S. Navy said an IRGC vessel fired unguided rockets near the aircraft carrier USS Harry S. Truman in the Strait of Hormuz, a critical shipping route for crude oil that connects the Gulf to the Indian Ocean. Iran denied the vessel had done so.

In April 2015, the Guards seized a container ship belonging to Maersk, one of the world's major shipping lines, in the Gulf because of a legal dispute between the company and Iran. The ship and its 24 crew members were released after 10 days.

The Guards have also seized British servicemen on two occasions, in 2004 and 2007, and a civilian British yacht crew in 2009. On each occasion the sailors were released unharmed after several days.

(Reporting by Bozorgmehr Sharafedin and Phil Stewart; Writing by Sam Wilkin; Editing by Sami Aboudi, Peter Graff and Giles Elgood)

http://news.yahoo.com/reports-u-sailors-prompt-release-speculation-irans-revolutionary-061613378.html

[Gypsygirl11]

Thank God

[Freedomwish]

“There won’t be a massive clash between the parties,” Razuvayev said. “Iran has just been released from the sanctions. Saudi Arabia is weaker than Iran militarily. The sides do not need a war."

I just caught this reading this article this either just happened or it's inside information being #leaked in this article???!!

 

 

     SAY WHAAAAAAAAAAT?!!   :blink:  though, January 17th has been the word this was to take place....

Edited January 13, 2016 by Freedomwish

[Freedomwish]

 Iran Sanctions Seen Lifted by Monday Once Nuclear Deal Verified 

 

http://www.bloomberg.com/news/articles/2016-01-13/iran-sanctions-seen-lifted-by-monday-as-nuclear-deal-implemented

[VIZIOIRAQI]

 Iran Sanctions Seen Lifted by Monday Once Nuclear Deal Verified 

 

http://www.bloomberg.com/news/articles/2016-01-13/iran-sanctions-seen-lifted-by-monday-as-nuclear-deal-implemented

 

Nice now let's see with all this new demand how fast it climbs the mountain LOL Yahooooooo!

[pokerplayer]

Sorry too ask again but this thread moves quickly. Was a safe site to purchase from ever posted ? I am really interested in buying but don't know we're to look.

Thanks Members.

Pp

[VIZIOIRAQI]

IAEA announcement expected on Iranian compliance with nuclear agreement

By Don Melvin, CNN

Updated 9:49 AM ET, Sat January 16, 2016

 

"TODAY IS  IMPLEMENTATION  DAY THE ECONOMIC SANCTIONS HAVE BEEN LIFTED JAN 16 2016"  HEARD IT LIVE ON CNN THIS MORNING IN TRADE FOUR PRISIONERS IN SWAP DEAL FREED INCLUDING  SAEED ABEDINI PASTOR WE'VE ALL BEEN PRAYING FOR !

 

 

 

 

Story highlights

• U.S. Secretary of State John Kerry arrives in Vienna, meets with Iranian Foreign Minister Mohammad Javad Zarif
• Report on Iran's compliance with terms of nuclear deal expected Saturday
• Deal calls for lifting of some economic sanctions in exchange for Iran curbing nuclear program

(CNN)Iran's foreign minister arrived in Vienna on Saturday saying he was confident the U.N.'s nuclear watchdog would certify that his country was complying with the terms of a deal to restrict its nuclear program in exchange for the lifting of some international economic sanctions.

The International Atomic Energy Agency is expected to release its report Saturday assessing Iran's compliance with an agreement with foreign powers, including the United States and the European Union.

Many observers expect the IAEA will corroborate Iranian compliance.

Doing so would herald "Implementation Day," the formal name for the start of the next phase in the agreement called the Joint Comprehensive Plan of Action, which was hammered out with Iran in July. The new "Day" will mean the first wave of economic relief for Iran.

Details of July's Iran nuclear deal

Iranian Foreign Minister Mohammad Javad Zarif had already exuded confidence in a post to Twitter shortly after arriving in Vienna that the milestone has been met. "#ImplementationDay, it's now time for all -- especially Muslim nations -- to join hands and rid the world of violent extremism. Iran is ready."

U.S. Secretary of State Kerry arrived later and quickly went into a meeting with Zarif.

http://www.cnn.com/2016/01/16/middleeast/vienna-iran-iaea-nuclear-deal/

[bohica]

How I would love to read where it went 1;1....

[gixxerfrog]

The prices have almost doubled on ebay and there are alot more auctions for them.

[coorslite21]

http://www.al-monitor.com/pulse/originals/2015/05/iran-foreign-exchange-sanction-relief-imports.html#

 

 

What will lifting sanctions do to Iran's rial?

If economic sanctions against Tehran are lifted, the flow of $130 billion worth of Iran’s blocked funds coupled with billions of dollars in possible foreign direct investment into the $370 billion economy could be disastrous if a proper currency policy is not adopted.

 

 

The removal of sanctions will likely substantially strengthen the rial and could lead to a wave of cheap and wasteful imports into Iran, economists have warned.

Author Alireza RamezaniPosted May 7, 2015

Farhad Nili, head of the Monetary and Banking Research Institute, noted earlier this week that sanctions have left Iran with "compulsory savings" abroad, an opportunity that he said "must be seized in a best way."

 

 

The Central Bank of Iran (CBI) has in the past 18 months focused on curbing inflation, which is an effective factor on the rial’s parity rate against the US dollar as the dominant reserve currency. Inflation, which once stood at 40%, reached 15.5% in the 12 months ending April 20, a great achievement for the moderate administration that took power with an agenda to recover the economy. Late in April, the regulator eventually decided to lower interest rates, putting a 20% cap for deposit rates (down from 22%) and 24% limit for lending rates (down from 28%). Observers believe the third step the CBI may take is a decision to unify the dual foreign exchange rates, a policy the administration has been sitting on since mid-2013.

 

 

Some economists believe a unified system could be a boon for Iran's business environment, as it would reduce corruption and rent-seeking, a phenomenon widely believed to be a major setback for the struggling economy. In April, Tahmasb Mazaheri, a former CBI governor, told Nasim Online that the administration “should not waste time by putting off the unification plan for the post-sanctions era.” Sohrab Delangiz, another monetary expert, also believes the dual-rate system gives “wrong signals” to investors. The rial’s value, he argues, should approach a more "realistic" level — possibly around 37,000 rials against the US dollar or as others suggest around 52,000 rials, taking into account the 50% inflation rate collectively registered in Iran and the Organization for Economic Cooperation and Development over the past two years.

 

 

Valiollah Seif, the CBI governor, however, does not agree with the argument, though he has announced his bank will consider unifying the foreign exchange rates after stability returns to the economy, that is, when the ongoing nuclear talks between Iran and six world powers (the United States, Britain, France, Germany, China and Russia) result in a final deal, and therefore a removal of sanctions. Seif and the like-minded figures argue that inflation is a determining factor, saying a single-digit inflation rate is an essential prerequisite for a unified exchange rate system. In an April 21 interview with CCTV America, Seif said Iran would cut inflation to single digits within the next two years. That means no such plan will be on CBI's agenda until inflation is further tamed, an elusive target.

 

 

Even if the regulator opts to unify the rates right now, the dollar's official rate — hovering at 28,400 rials — should be replaced with the unofficial rate of at least 33,000 rials. That will cause inflationary impacts, especially on domestic products deeply relying on imported raw material. On the other hand, the psychological expectations, generally affected by the CBI's decisions, could be too difficult to be managed.

 

 

An assistant professor with Tehran-headquartered Institute for Trade Studies and Research suggests that the unification of rates will only be advisable when the government is able to significantly increase nonoil exports, boost economic growth and domestic manufacturing, maximize its tax income and minimize the national budget deficit — fundamental issues that would take years to overcome.

 

 

So what would the currency market be like in the post-sanctions era? Traders and business owners already put off their plans to import raw material and machinery, hoping the rial will appreciate in a meaningful way when a nuclear deal is signed by the self-imposed June 30 deadline. A stronger rial is largely feared to be translated to cheap imports, a phenomenon that economists are warning against.

 

 

Addressing monetary officials and experts during this week's conference called "The Effects of Ending Sanctions against the Central Bank," Nili warned against "wasting several hundred billion dollars on imports, a move that could kill all available opportunities."

 

 

The Rouhani administration is believed by many in the capital to have a tendency toward populism, a characteristic that could lead to the same behavior as its predecessor demonstrated between 2005 and 2013 when faced with a jump in oil revenue. If the incumbent administration decides to please the public opinion, after a hard time, it may start importing huge amounts of consumer goods; cheap imports could be at the cost of loss of domestic manufacturing, a sector the whole government, not only the Rouhani administration, has a cohesive strategy to support. So the economic elite in the government are advised to stick to a contractionary policy when it comes to the foreign currency market, in a bid to prevent the national currency from too much destructive appreciation against the dollar.

 

 

Mehdi Barakchian, an economist within the administration, favors the Chinese central bank idea to block foreign revenues the government is earning from entering the domestic market. In a recent interview with Tejarat Farda magazine, Barakchian discussed how for the past two decades the People's Bank of China has been purchasing billions of dollars in foreign funds to avoid a strong yuan, a move that has frequently been met by opposition from US authorities.

 

 

If the CBI applies the same policy as China did, the rial will not appreciate very much and therefore imports would only increase reasonably. Instead, the government has the opportunity to invest in regional countries, a policy the Rouhani administration has already started to pursue. It could be a defendable decision if the CBI chooses to shift a major part of the multi-billion dollar revenue to external markets. The strategy could meanwhile boost Iran's foreign policy as it would help increase the Islamic Republic's share in other investment markets, the same path China, a model economy for Iran, has been following.

[gregp]

A Florida bank confirmed it's live tomorrow!!!!!!

Edited January 18, 2016 by gregp

[gixxerfrog]

A Florida bank confirmed it's live tomorrow!!!!!!

What does that mean??

[gregp]

it's once again traded at U.S. banks.

I hope two things.

1. The bank is correct.

2. The sharks get a hold of it.

[blueskyline]

Very Interesting ! 

[gixxerfrog]

What's the rate the banks offer 30,000 rials to $1 (around that??)

[VIZIOIRAQI]

What's the rate the banks offer 30,000 rials to $1 (around that??)

Right now the Rial is at 29,790.00000

not sure what the bank is offering and at this price I don't care , but the value from what I've read today is expected to rise pretty fast and their working it out so that they can control it to a small level , not to through a shock wave on import and exports keeping the economy stable.

[gregp]

Tomorrow will tell.

[gixxerfrog]

I was hoping to go buy more at a bank since ebay auctions have doubled. If I can get almost 30,000 per 1$ that would b great..... Ebay has them 12-13$ (and some are higher) for 100,000.

[Freedomwish]

The prices for buying Iranian Rial currency has spiked all over the place - if it's back out on the market now, I'm hoping my local bank would offer these for sale/exchange as with other foreign currencies.  It'll be the cheapest route now.  Wow. 

[pokerplayer]

Thanks FW

pp

[Frangipani]

ive not seen rial on sale with any bank - i contacted chase and wells fargo as well as my local airport and travelex..they are not offering it.