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screwball

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screwball last won the day on October 2 2016

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  1. And 0.35-0.37 cents aud....350,000 or 370,000 per 1,000,000 hmmm....
  2. True....I bought mine from a so called registered treasury approved business and took screenshots of their website, kept all receipts so I bought most of mine for sanctions hit....but we cross that bridge when we get to it...
  3. I also remember that you might have to travel to cash in, and if you are in the us this might be a little difficult because I remember posting earlier in this thread that transactions cannot start and end in usd! What impact that will have who knows until then we must wait.
  4. Will there be? One of the reasons why there are sanctions is because they have four years refused to rejoin the international monetary system and comply with aml/ctf rules and guideline. We know they have passed important legilsation but until they revalue their currency and rejoin they will have monetary sanctions in place. So how will this go down we all just have to wait and see!
  5. Iran to scrap rial for good as parseh becomes small currency unit Wed Aug 21, 2019 02:35PM [Updated: Wed Aug 21, 2019 02:51PM ] Home Iran Economy Iran’s smallest unit of currency, equal to a hundredth of a toman, will be named parseh. (Photo by AFP) The rial, the currency unit used consistently in Iran for almost a century, will be totally abandoned once the country introduces a redenomination. Iran’s new small unit of currency under toman will be named parseh and not rial, as previously reported in the media, based on the terms of a bill sent by the government to the parliament on Wednesday. The bill said the rial will continue to remain a legal tender for a maximum of two years of transition period which will begin once the new currency is introduced to the markets. “After the transition period, all liabilities that have been accrued based on the currency unit of rial will only be settled through the currency unit of toman,” read a sub-article of the bill, a copy of which was circulating in the Iranian media on Wednesday. PressTV-Currency overhaul to cost Iran nearly $160m: Report The official IRNA agency estimates that currency overhaul would cost Iran around $160 million. Iran’s decision to slash four zeros off the rial comes less than a year after the national currency plunged in the face of a series of American sanctions. The rial regained some of its footing last month after the government announced measures to narrow the gap between the price of the currency in the unregulated market and a system meant to collect foreign currencies earned from exports. Analysts believe redenomination of currency in Iran will have a slight psychological impact on the markets as the government tries to improve macroeconomic indicators.
  6. Bill on national currency reconversion submitted to Parliament TEHRAN, Aug. 21 (MNA) – Iranian President Hassan Rouhani submitted the bill on reforming monetary and banking law including ‘eliminating four zeros from national currency and national currency reconversion’ to the Parliament. According to this bill, Iran’s national currency will be changed from rials to toman and each toman would be equal to 10,000 rials or 100 rial parseh. On July 31, the government approved a plan to take four zeros off the national currency in a bid to curb the tide of liquidity and impede rial depreciation. The plan to remove four zeros from the rial has been on the government agenda since it was proposed about seven month ago by Central Bank of Iran as part of a broader plan to revisit the monetary system. The measure stipulates change in the nominal value and the face of bank notes and coins. On August 6, Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said that crossing out four zeros from national currency, Rial, will have no impact on inflation rate adding that the central bank is ready to implement the plan. He explained that removing four zeros will have no costs for the government since CBI annually prints about 700 million of new bank notes and replacing the old ones with the new ones is a routine procedure. He said that lopping off of four zeros from national currency will for sure facilitate daily transactions but to get implemented the government’s ratified plan needs Parliament’s approval, as well.
  7. 47 Iran: Rial Revaluation Bill Sent to Majlis Iran: Rial Revaluation Bill Sent to Majlis ..... President Hassan Rouhani sent the rial redenomination bill to the Majlis on Wednesday for debate. As per the ‘Reforming Monetary and Banking Law’ bill, four zeros will be shaved off the national currency and the monetary unit will switch officially from the rial to the commonly used toman, the official government website, dolat.ir reported. Originally floated as a Central Bank of Iran proposal, the bill was approved by the government earlier in the month. It must be endorsed by the Majlis to become law. Accordingly, the minor monetary unit of the new currency will be dubbed ‘parseh’.
  8. At 238,000 per million you and me are going to have a bigger drinking problem than we have ever had..well you will be out of control and me well...
  9. 2.38:usd per million rial would be much better 😀
  10. 238,000 per million or more will certainly make me happy..
  11. Business And Markets August 20, 2019 19:42 Iran's Economy Improving Gradually CBI data show out of the total 7,737 trillion rials ($60 billion) loans paid in the last fiscal year (ended March 2019), 4,319 trillion rials ($33.3 billion) was allocated to help raise the working capital of businesses ..... Leaving behind months of rainy days, Iran’s economy is showing signs of improvement in major variables, governor of the Central Bank of Iran said on Monday. Speaking on prime time state TV, Abdolnasser Hemmati spoke of relative improvement in macroeconomic indices like inflation, forex rates and liquidity in recent months, following instability and turmoil in almost all domestic markets last year. “The national currency regained 40% of its value,” Hemmati said. The rial fell more than 60% in unprecedented market fluctuations during April-September 2018, spurred by threats of new US economic sanctions and dim prospects for currency reserves as oil revenues took a drubbing unseen in recent decades.
  12. Iran to scrap rial for good as parseh becomes small currency unit Wed Aug 21, 2019 02:35PM [Updated: Wed Aug 21, 2019 02:51PM ] Home Iran Economy Iran’s smallest unit of currency, equal to a hundredth of a toman, will be named parseh. (Photo by AFP) The rial, the currency unit used consistently in Iran for almost a century, will be totally abandoned once the country introduces a redenomination. Iran’s new small unit of currency under toman will be named parseh and not rial, as previously reported in the media, based on the terms of a bill sent by the government to the parliament on Wednesday. The bill said the rial will continue to remain a legal tender for a maximum of two years of transition period which will begin once the new currency is introduced to the markets. “After the transition period, all liabilities that have been accrued based on the currency unit of rial will only be settled through the currency unit of toman,” read a sub-article of the bill, a copy of which was circulating in the Iranian media on Wednesday. PressTV-Currency overhaul to cost Iran nearly $160m: Report The official IRNA agency estimates that currency overhaul would cost Iran around $160 million. Iran’s decision to slash four zeros off the rial comes less than a year after the national currency plunged in the face of a series of American sanctions. The rial regained some of its footing last month after the government announced measures to narrow the gap between the price of the currency in the unregulated market and a system meant to collect foreign currencies earned from exports. Analysts believe redenomination of currency in Iran will have a slight psychological impact on the markets as the government tries to improve macroeconomic indicators.
  13. Exactly been my investment strategy for years...
  14. Nothing will change (in the economic situation) by knocking off zeros from the currency,” he said. “Nothing will change by reviving coins in transactions.”......clearly by this statement something has to change!
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