screwball Posted August 26, 2016 Report Share Posted August 26, 2016 The finance minister said KEB Hana Bank, Shinhan Bank and Woori Bank will handle the euro-based payment system, which uses the euro as a medium of trade, which is widely preferred by Iranian companies. good to see we have KEB offices in Sydney, Australia....looks like they might also have US and Canadian Branches... Quote Link to comment Share on other sites More sharing options...
gregp Posted August 26, 2016 Report Share Posted August 26, 2016 Screwball you rock! This is amazing news. A single rate. I'm curious what it's going to be. Thanks again for all your posts! Quote Link to comment Share on other sites More sharing options...
gregp Posted August 26, 2016 Report Share Posted August 26, 2016 There's a branch in Los Angeles. Great find! Quote Link to comment Share on other sites More sharing options...
screwball Posted August 26, 2016 Report Share Posted August 26, 2016 25 minutes ago, gregp said: There's a branch in Los Angeles. Great find! Yea mate I had read on their website that they had branches and were opening more in the U.S. and Canada so thought that would make some people happy! The next few days and weeks are going to be very exciting! 1 Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 26, 2016 Report Share Posted August 26, 2016 7 hours ago, screwball said: Hmmm..August 29th? http://en.trend.az/business/economy/2653018.html Interesting but how does this affect us positively? Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 26, 2016 Report Share Posted August 26, 2016 (edited) I am obviously not a financial wiz so I'm still not sure how an exchange rate between South Korea and I ran affects us positively. Even if they go to a single rate between Iran and South Korea what does that do for our exchange rate? Edited August 26, 2016 by climber7 Quote Link to comment Share on other sites More sharing options...
screwball Posted August 26, 2016 Report Share Posted August 26, 2016 5 minutes ago, climber7 said: I am obviously not a financial wiz so I'm still not sure how an exchange rate between South Korea and I ran affects us positively. Even if they go to a single rate between Iran and South Korea what does that do for our exchange rate? This to put it simply is a big step to us exchanging our Currency...this is less about Korea and more about the euro and being on the open markets....hy else would they hold off,on Airbus contract signing until end of August? Maybe that's because they won't have access to the euro system and world market until August 29! And considering Korean banks have branches in the usa and Canada you should be excited. This ride is almost over! D this is a big step? If you are not excited thatsnokaymimhave enough for everyone! 1 Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 26, 2016 Report Share Posted August 26, 2016 Oh, I'm getting excited but between not understanding the intricate workings of the financial system and the roller coaster ride of 7 years with the dinar it's hard to expect anything good anytime soon. But Im getting hopeful with the rial! Thanks for your replies and patience with a novice investor Quote Link to comment Share on other sites More sharing options...
Freedomwish Posted August 26, 2016 Report Share Posted August 26, 2016 (edited) 8 hours ago, screwball said: and no comment? Lol... Sorry......I was hyperventilating and nearly had fainted when I read your latest scoop lol! A possible "single rate" very soon, I'm just on the floor......what I just don't get, why in the world Iraq and it's dinar are going through their troubles of releasing their currency into the global market......could it possibly be after all, that Iran may take the first lead? But wow keep bringing on the scoop Screwball!! Thanks!! Edited August 26, 2016 by Freedomwish 2 Quote Link to comment Share on other sites More sharing options...
millionaire in training Posted August 26, 2016 Report Share Posted August 26, 2016 4 hours ago, Freedomwish said: Sorry......I was hyperventilating and nearly had fainted when I read your latest scoop lol! A possible "single rate" very soon, I'm just on the floor......what I just don't get, why in the world Iraq and it's dinar are going through their troubles of releasing their currency into the global market......could it possibly be after all, that Iran may take the first lead? But wow keep bringing on the scoop Screwball!! Thanks!! FW...you're so funny. Im seeing that people are not realizing how big the rial is really gonna be. It's cheap to buy , much cheaper than the dinar and will have a good return. Im reading so many articles on Iran lately . They're everywhere. It's like a run away train. Things are moving really fast. I think Iraq had more issues to work out than Iran..... thats why it's taken them that much longer. This is very exciting......can't wait...... 2 Quote Link to comment Share on other sites More sharing options...
millionaire in training Posted August 26, 2016 Report Share Posted August 26, 2016 11 hours ago, screwball said: The finance minister said KEB Hana Bank, Shinhan Bank and Woori Bank will handle the euro-based payment system, which uses the euro as a medium of trade, which is widely preferred by Iranian companies. good to see we have KEB offices in Sydney, Australia....looks like they might also have US and Canadian Branches... I've never heard of this bank before. Something to watch for now. Thanks. Quote Link to comment Share on other sites More sharing options...
screwball Posted August 26, 2016 Report Share Posted August 26, 2016 http://tribune.com.pk/story/1170470/iran-south-korea-begin-trade-euros/ 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted August 26, 2016 Report Share Posted August 26, 2016 http://www.france24.com/en/20160826-iran-south-korea-begin-trade-euros 1 Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 27, 2016 Report Share Posted August 27, 2016 29 minutes ago, screwball said: http://tribune.com.pk/story/1170470/iran-south-korea-begin-trade-euros/ So, will it be MANDATORY for them to convert to the single currency system before the 29th to do this? Quote Link to comment Share on other sites More sharing options...
screwball Posted August 27, 2016 Report Share Posted August 27, 2016 3 minutes ago, climber7 said: So, will it be MANDATORY for them to convert to the single currency system before the 29th to do this? You would think so! I do.... 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted August 27, 2016 Report Share Posted August 27, 2016 http://financialtribune.com/articles/economy-business-and-markets/48478/tehran-seoul-discard-us-dollar-transactions Quote Link to comment Share on other sites More sharing options...
screwball Posted August 27, 2016 Report Share Posted August 27, 2016 http://financialtribune.com/articles/economy-business-and-markets/48466/australian-businesses-held-back-fearing-us-backlash Quote Link to comment Share on other sites More sharing options...
screwball Posted August 27, 2016 Report Share Posted August 27, 2016 http://financialtribune.com/articles/economy-business-and-markets/48476/cbi-opens-542-accounts-foreign-banks Quote Link to comment Share on other sites More sharing options...
millionaire in training Posted August 27, 2016 Report Share Posted August 27, 2016 Thank You SB ......good articles. Quote Link to comment Share on other sites More sharing options...
jaman Posted August 27, 2016 Report Share Posted August 27, 2016 14 hours ago, screwball said: The finance minister said KEB Hana Bank, Shinhan Bank and Woori Bank will handle the euro-based payment system, which uses the euro as a medium of trade, which is widely preferred by Iranian companies. good to see we have KEB offices in Sydney, Australia....looks like they might also have US and Canadian Branches... 2 they sure like the EAST and WEST part of the USA...Had to do it ScrewBall...bought another 5 mil Quote Link to comment Share on other sites More sharing options...
markb57 Posted August 27, 2016 Report Share Posted August 27, 2016 thing is though, the KEB branches here in the states still would have to follow US sanctions, wouldnt they? 1 Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 27, 2016 Report Share Posted August 27, 2016 28 minutes ago, markb57 said: thing is though, the KEB branches here in the states still would have to follow US sanctions, wouldnt they? Ya, I'm trying to figure out the steps on how we can exchange and cash in..... Quote Link to comment Share on other sites More sharing options...
gixxerfrog Posted August 27, 2016 Report Share Posted August 27, 2016 25 minutes ago, climber7 said: Ya, I'm trying to figure out the steps on how we can exchange and cash in..... go to canada taking your iran rials..... exchange your rials for canada money.... take your canada money into the US and exchange your canada money into USD. 1 Quote Link to comment Share on other sites More sharing options...
climber7 Posted August 27, 2016 Report Share Posted August 27, 2016 Sweet Thanks gixxer--that's what I thought but was wondering about how the sanctions might affect that process.... Quote Link to comment Share on other sites More sharing options...
screwball Posted August 27, 2016 Report Share Posted August 27, 2016 42 minutes ago, gixxerfrog said: go to canada taking your iran rials..... exchange your rials for canada money.... take your canada money into the US and exchange your canada money into USD. There you go.....I have posted some questions on their facebook page to see if I get a response...it's all about sharing information. As long as you don't back into usd, there are plenty of ways around it.. Quote Link to comment Share on other sites More sharing options...
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