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Iranian Rial

VIZIOIRAQI

By VIZIOIRAQI,
in Foreign Currencies

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millionaire in training
millionaire in training

FW....hate to disappoint you but Im not a "brother"        more like a sister ,girl, dudett , millionairess, female,  all of the above .....   

millionaire in training
millionaire in training

I think people have misunderstood the March 21st date meaning.   This was not an RV date this was a unification of 2 rates becoming one. This will allow Iran to move forward and therefore go inte

pokerplayer
pokerplayer

Once we get the green light from Canadians banks I will put the plan in place so I can send to any interested so they won't need to figure out what to do here. As in paperwork, I.D. ect. pp

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gixxerfrog Newbie

gixxerfrog

Posted
Posted

i know you said that you cant help to post the quote part, about the ebay rials being from washington. i dont see how anyone can prove when their rial was printed. to me this is nonsense. all notes (again as long as they are not counterfeited) they will accept them all or non (if the country has sanctions placed on them), they wont care when they were printed.

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millionaire in training Newbie

millionaire in training

Posted
Posted
2 hours ago, gixxerfrog said:

i would love for it to come out that high, i just cant see them doing it. it is much lower than the dinar and adam is thinking the dinar is going to come out at .10 at best even if the dinar comes out at 1:1 that is pretty high..... for the rial to come out at .10 cents that would be high i would think. if the rial comes out 1:1 that is crazy (not saying it CANT happen) i am just trying to not get my hopes up, i am thinking .10 cents at max.  

 

screwball has there been anything interesting in the news ? i havent read anything for a few days.

Gixxerfrog,   I don't think that the dinar will come out lower that 1.00 . There have been plenty of articles already insinuating that. I know what Adam thinks but I disagree. Therefor my feeling is that Iran isn't gonna be left behind. There is a competitive drive to be on par or close to the dinar. I feel the dinar will start at 1.00ish and float. Has the ability to return to it's original value and then some. Now the rial Im not sure about. The good news is like I said before they won't be left behind. They will try and compete somewhat with Iraq. How much they will accomplish thats left to be seen. But if they open at 1.00 that would be out of this world !

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screwball Grand Master

screwball

Posted
Posted
2 hours ago, gixxerfrog said:

i know you said that you cant help to post the quote part, about the ebay rials being from washington. i dont see how anyone can prove when their rial was printed. to me this is nonsense. all notes (again as long as they are not counterfeited) they will accept them all or non (if the country has sanctions placed on them), they wont care when they were printed.

I agree with this...all notes 

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Freedomwish Explorer

Freedomwish

Posted
Posted (edited)
3 hours ago, screwball said:

Yep but higher...

Folks......please make sure that you are sitting down and holding on to your butts when you click on this latest scoop. Wow.:blink:

https://www.dailystar.com.lb/Business/Regional/2016/Aug-22/368263-iran-puts-trust-in-market-to-give-currency-boost-to-recovery.ashx

Brother Screwball has been on point!:twothumbs:

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screwball Grand Master

screwball

Posted
Posted
48 minutes ago, Freedomwish said:

Folks......please make sure that you are sitting down and holding on to your butts when you click on this latest scoop. Wow.:blink:

https://www.dailystar.com.lb/Business/Regional/2016/Aug-22/368263-iran-puts-trust-in-market-to-give-currency-boost-to-recovery.ashx

Brother Screwball has been on point!:twothumbs:

Nice very nice! Hinden little gem! Like I said there was an article pointing to october! 

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millionaire in training Newbie

millionaire in training

Posted
Posted

Authorities are “laying the foundation” for plans to unify the existing two rial-to-dollar exchange rates, said Kamal Seyedali, a former deputy governor. 

 

TWO RIAL-TO- DOLLAR EXCHANGE RATE ?   DOES THIS MEAN  2-1 ?  I think I need to sit down.....Oh Im already sitting down....lol

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screwball Grand Master

screwball

Posted
Posted

http://www.bloomberg.com/news/articles/2016-08-20/iran-puts-trust-in-market-to-deliver-currency-boost-to-recovery

 

5 minutes ago, millionaire in training said:

What do they mean (in the article) by duel exchange rate?

There is an active black market in foreign exchange, but the development of the TSE rateand the ready availability of foreign exchange over 2000 narrowed the differential to as little as IR100 in mid-2000.[18] However the spread increased again in September 2010 because channels for transferring foreign currency to and from Iran are blocked because of international sanctions.[19][20]

Monetary policy is facilitated by a network of 50 Iranian-run forex dealers in Iran, the rest of the Middle East and Europe. According to the Wall Street Journal and dealers, the Iranian government was selling $250 million daily to keep the Iranian rial exchange rate against the US dollar between 9,700 and 9,900 in 2009.[21] At times (before the devaluation of the rial in 2013) the authorities weakened the national currency intentionally by withholding the supply of hard currency to earn more rial-denominated income, usually at times when the government faced a budget deficit.[22]

The widening of the gap between official and unofficial exchange ratesstood at over 20% in November 2011. This shows the correlation between the value of foreign currencies and the domestic inflationary environment.[23]

The unofficial rial vs. US dollar rate underwent severe fluctuations in January 2012 (the rial losing 50% of its value in a few days, following new international sanctions against the CBI), eventually settling at 17,000 rials at the end of the period. Besides all the bad effects on the economy in general, this had the effect of boosting the competitiveness of Iran's domestic industries abroad. Following President Mahmoud Ahmadinejad's decision to liberalize the mechanism by which bank interest rates are set (granting banks the authority to raise interest rates to 21%),[22] CBI announced that it would be fixing the official rate of the rial against the dollar at 12,260 rials from 28 January 2012 and seek to meet all demand for foreign currency through banks.[22][24][25][26][27]

On September 25, 2012, the Iranian rial fell to a new low, trading at 26,500 to the US dollar. The drop followed the government's launch of a foreign exchange center a day before, that would provide importers of some basic goods with foreign exchanges, at a rate about 2% cheaper than the open market rate on a given day. The announced rate at the center on September 24, 2012 was 23,620 rials to USD.[28] By early October 2012, Rial had further fell in value to about 38,500 Rials per USD in the free market. The Iranian rial was devalued in July 2013.[8]

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