Iranian Rial

[rw.sutton]

Fri Sep 02, 2016 4:51

Iran, Russia Ink Banking Cooperation Pact




Senior Iranian and Russian officials signed an agreement to expand their banking cooperation and financial relations.The cooperation was singed between Vice-Governor of the Central Bank of Iran (CBI) Gholamali Kamyab and his Russian counterpart Dmitry Skoblekin in Tehran on Thursday.

Based on the cooperation pact, the two sides agreed to fight money laundering and financial support of terrorism.

The agreement will also facilitate execution of the Bilateral Currency Swap agreements reached between the two countries.

In June, Iran confirmed reports that Russia plans to open a $5 billion credit line for Iran to help finance projects and exports in the country.

"Yes. The Russians have voiced readiness in negotiations to open a line of credit for exports," Government Spokesman Mohammad Baqer Nobakht told reporters in Tehran.

"We have declared our readiness to Russia and other countries to use their resources for investment in Iran," he added.

In late July, Iranian Minister of Communications and Information Technology Mahmoud Vaezi and Russian Energy Minister Alexander Novak in a meeting in Moscow underlined the need for the expansion of mutual cooperation.

Vaezi and Novak explored avenues for bolstering and reinvigorating bilateral ties.

During the meeting, Vaezi underlined the importance of the upcoming meeting between Iranian President Hassan Rouhani and Russian President Vladimir Putin in Baku later this month.

Referring to the agreements, reached between Iran and Russia in the 12th Iran-Russia Joint Economic Cooperation Commission session, he said that Tehran is ready for development of all-out ties with Moscow.

Novak, for his part, said that there are good potentials for expansion of all-out ties between the two countries.

http://en.farsnews.com/newstext.aspx?nn=13950612000586 

[Freedomwish]

"In June, Iran confirmed reports that Russia plans to open a $5 billion credit line for Iran to help finance projects and exports in the country."

My whiskey drinks keeps getting better and better 

Thanks RW!!

[screwball]

http://financialtribune.com/articles/economy-business-and-markets/48995/markets-diverge-rial-weakens

The Central Bank of Iran continued with its policy of weakening the rial’s exchange rate against the dollar this week. The bank wants to close the gap between official and market exchange rates.

The rial slightly weakened on Wednesday and one dollar was sold at the bank at 31,256 rials by Thursday.

CBI officials have promised to abolish Iran’s dual exchange rate regime before March next year. The bank overshot its previous target which was to unify the exchange rate regime by August.

 Spotlight on the Quasi-State

The parliament passed a bill on Sunday mandating state organizations, both government and non-government, to disclose their financial information to the Securities and Exchange Organization. The bill sets penalties for noncompliance.

its getting close!

Edited September 3, 2016 by screwball

[screwball]

http://financialtribune.com/articles/economy-business-and-markets/48983/iran-russia-agree-trade-nat’l-currencies

[screwball]

http://financialtribune.com/articles/world-economy/48991/imf-urges-action-revive-world-economy

[screwball]

http://www.al-monitor.com/pulse/originals/2016/08/iran-dual-exchange-rate-unification-rial-cbi-valiollah-seif.html

[screwball]

20 minutes ago, Freedomwish said:

"In June, Iran confirmed reports that Russia plans to open a $5 billion credit line for Iran to help finance projects and exports in the country."

My whiskey drinks keeps getting better and better 

Thanks RW!!

Think you better buy a box my man I think you gunna be smashing that shite over the next four weeks!

[climber7]

22 minutes ago, screwball said:

http://www.al-monitor.com/pulse/originals/2016/08/iran-dual-exchange-rate-unification-rial-cbi-valiollah-seif.html

 

In the comments below this article this guy said....

Lost in america  IranMan • 5 days ago

If you can trade Iranian currency for dollars at the official rate, you will get rich. If you trade for dollars at the international rate, you should do well in the next few months. You may a good point about the Khamenie and Rouhani relationship. The economic situation in Iran has not been politicalized on the macro level. They are trying to evolve a positive investment environment while having structural problems that impedes economic growth. It is fascinating to watch. Just short the Iranian currency against dollars and you can figure it out later.

Is he talking about buying now or later after the single rate comes out? 

[screwball]

http://www.tehrantimes.com/news/405999/Tehran-Moscow-sign-MOU-on-banking-co-op

[screwball]

4 minutes ago, climber7 said:

 

In the comments below this article this guy said....

Lost in america  IranMan • 5 days ago

If you can trade Iranian currency for dollars at the official rate, you will get rich. If you trade for dollars at the international rate, you should do well in the next few months. You may a good point about the Khamenie and Rouhani relationship. The economic situation in Iran has not been politicalized on the macro level. They are trying to evolve a positive investment environment while having structural problems that impedes economic growth. It is fascinating to watch. Just short the Iranian currency against dollars and you can figure it out later.

Is he talking about buying now or later after the single rate comes out? 

 

4 minutes ago, climber7 said:

 

In the comments below this article this guy said....

Lost in america  IranMan • 5 days ago

If you can trade Iranian currency for dollars at the official rate, you will get rich. If you trade for dollars at the international rate, you should do well in the next few months. You may a good point about the Khamenie and Rouhani relationship. The economic situation in Iran has not been politicalized on the macro level. They are trying to evolve a positive investment environment while having structural problems that impedes economic growth. It is fascinating to watch. Just short the Iranian currency against dollars and you can figure it out later.

Is he talking about buying now or later after the single rate comes out? 

I think this says it all! 

If you trade for dollars at the international rate, you should do well in the next few months.?

[screwball]

If anyone reads this differently please chime In!

[climber7]

Just wondering what he meant by buying at official rate you'll be rich. Is that NOW or later? 

[climber7]

Also, the last comment at the bottom he encourages the fellow he's communicating with to buy dollars with rials.
 

Huh? 

Confusing.....

Edited September 3, 2016 by climber7

[screwball]

6 minutes ago, climber7 said:

Just wondering what he meant by buying at official rate you'll be rich. Is that NOW or later? 

Itsmy belief you buy now rich later....as I said you to interpret it yourself and be happy you have made the correct decision to invest...

[screwball]

"The next few months" says it all 

[screwball]

19 minutes ago, climber7 said:

Also, the last comment at the bottom he encourages the fellow he's communicating with to buy dollars with rials.
 

Huh? 

Confusing.....

Seriously your reading other people's comments! That's becausenthe Chinese yuan had been devalued against the dollar thats why the dollar has been rising, but the switch will come when the yuan enters the basket on October, there are those that say the dollar will collapse! Believe what you will? Considering the head of the IMF are urging the g20 to act quickly. You will see a move to the sdr as the worlds reserve currency and collapse of th dollar...

 

Edited September 3, 2016 by screwball

[screwball]

Sorry misunderstood I didn't realise you were referring to someone's comments, I think his referring to the crashing of the usd over the next coming period. There are some that say when China enters the basket and the sdr because the new worlds currency, that China will,inlcude gold in their composition, who knows until October the 1st. I deal with dinar and rial.....

[gregp]

a unified exchange rate will help boost demand for domestic products within the country and also abroad, thereby expanding non-oil exports. This is due to the added competitive advantage of a floated rial, which is expected to be cheaper than the current official rate. The Tehran Chamber of Commerce argues that the immediate effect of floating the rial will be a devaluation of 12% (compared to the current official rate) in the short term and 31% in the long term.

Read more: http://www.al-monitor.com/pulse/originals/2016/08/iran-dual-exchange-rate-unification-rial-cbi-valiollah-seif.html#ixzz4JBm7KR2s

 

 

Not sounding to good. I hope this guy is wrong. 

[screwball]

30 minutes ago, gregp said:

a unified exchange rate will help boost demand for domestic products within the country and also abroad, thereby expanding non-oil exports. This is due to the added competitive advantage of a floated rial, which is expected to be cheaper than the current official rate. The Tehran Chamber of Commerce argues that the immediate effect of floating the rial will be a devaluation of 12% (compared to the current official rate) in the short term and 31% in the long term.

Read more: http://www.al-monitor.com/pulse/originals/2016/08/iran-dual-exchange-rate-unification-rial-cbi-valiollah-seif.html#ixzz4JBm7KR2s

 

 

Not sounding to good. I hope this guy is wrong. 

I wouldn't worry about what he has to say only those in the know will know what effect it will have, we know they have voted to remove four zeros from the rate, and we know they want a single rate paired against the euro with their own payment system, so unless it comes from the Cbi as we know all the rest is pure speculation! And with that I might buy some more! And as someone else said it only needs to be 0.10 and we are in the money!

Edited September 3, 2016 by screwball

[gregp]

Yes I agree. If and when they remove the zeros we will be set.

[WheresmyRV?]

So this might finally happen around the end of this month and next March at the latest?

[screwball]

17 minutes ago, WheresmyRV? said:

So this might finally happen around the end of this month and next March at the latest?

Yep timelines they have given and in post above and overpage...I am leaning towards september/October  March at very latest. I would think they want it done before U.S. elections....

[gregp]

30 minutes ago, screwball said:

Yep timelines they have given and in post above and overpage...I am leaning towards september/October  March at very latest. I would think they want it done before U.S. elections....

 I would think they want it done before U.S. elections

 

I agree. Trump has firmly stated he would put Iran back under sanctions if elected into office. I hope they move fast. If they do, IMO we will need to move fast.

[rw.sutton]

Rial re-values, Ive read all the post, but still not clear. What is going to be the steps for changing it ? I would really love to put it into some metals, and hold on, Thanks in advance for a little advice..

[millionaire in training]

5 hours ago, rw.sutton said:

Rial re-values, Ive read all the post, but still not clear. What is going to be the steps for changing it ? I would really love to put it into some metals, and hold on, Thanks in advance for a little advice..

RW.Sutton.......We are still unclear as to how we will be able to cash out. There are several possibilities Canada being one of them as a last resort. But I said that we will most probably be able to cash out here in the states. Time will tell.