Iranian Rial

[millionaire in training]

Yes like PP said .....Off Shore Investment.  The more you understand it the more you realize that you need it.  We are fortunate that Adam has it in place here for members. Understanding how you will benefit from it is the key.  Before I came on this site it WAS on my agenda. Adam just made it easier for me. We have an OSI group here on this site with a whole lot of information. We're just not suppose to talk about it in open forum. If you are interested in joining Im sure if you PM Adam he'll be more than happy to assist you and answer any questions you might have. OSI has alway offered lots of information for like minded people like us.  I would highly recommend it.  For me and my future it's a must have.    

[millionaire in training]

Also .....let me add to this by saying that it will also allow you to understand future investments because you will be surrounded by investors like yourself and opportunities if you wish to go forward with them.   

"Like Minded People"  my kind of crowd!

Something to think about.......  

[markb57]

wait and see.............soon hopefully...............

[screwball]

4 hours ago, millionaire in training said:

Well.......Your gut feeling may be right.    Iraq is expected to RV this month and from what I have read Iran will be right behind them. As in hours (as to not create double dipping) so we shall see.  I've stopped getting excited over this. Just watching and reading. Im sort of drained of excitement  , so many years of waiting on this (dinar) to happen.  On the up side .....Im actually calmer and wiser now more then ever.  Very concern of doing the right things after this hits. But I guess thats what lawyers, accountant and Adam are for.

I strongly advise any of you guys and gals to check out OSI. It WILL make a HUGE difference. I would not make a move without it.

Best of luck to all......  MIT

Yes have been looking it to it and made good contact in Dubai in regards to offshore so I will investigate this fully and diversify. I am too drained of excitement but hard to control it with Iran...and Iraq they will go very close! 

[screwball]

President Hassan Rouhani said the committee tasked with monitoring the commitments of other side to the 2015 nuclear agreement is to convene on Wednesday to decide how to respond to the US Congress' recent legislation to renew the Iran Sanctions Act.

"The JCPOA committee will convene a meeting tomorrow, in which we will determine and announce a proper response to the [US] violation of the action plan," Rouhani was quoted as saying by his official website on Tuesday.

JCPOA stands for the formal title of the accord, the Joint Comprehensive Plan of Action.

Rouhani made the announcement in a speech at the prestigious University of Tehran on the occasion of National Students Day.

The day marks the anniversary of the murder of three Tehran University students in 1953, by the security forces of the former monarchical regime.

They were killed when police forces opened fire on the students of University of Tehran who were protesting against the resumption of Iran's relations with Britain and a visit by the then US vice president, Richard Nixon, to Iran following the 1953 coup d'état, which removed the democratically elected prime minister, Mohammad Mosaddeq.

The ISA bill has yet to be signed by President Barack Obama to become law.

Rouhani reiterated a call on his US counterpart to avoid approving the 10-year extension to ISA, a law that was put in force in 1996 and will expire at the end of this month, if not renewed.

"Even if the US president signs the measure and then suspends its enforcement, we will consider it a breach of the JCPOA and will respond to it," he said.

The US State Department has said Obama is expected to sign the bill into law.

It has been the latest in a series of measures introduced by Republican lawmakers who control Congress and unanimously oppose the historic agreement to interfere with its implementation. 

Rouhani said the agreement was the result of collective decisions made after long consultations with the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei.

"For the decisions adopted during the negotiations, we held hours of meetings with the Leader," he said.

The Republican move has been seized upon by Rouhani's conservative rivals ahead of the 2017 presidential election to reinforce their criticism of the deal, championed by him.

They have blamed moderate Rouhani for his government's failure to deliver the promised dividends from the action plan, which they insist has conceded too much to the other side and compromised the red lines of the establishment. 

It emerged from about two years of negotiations in July last year and went into force early this year to curb Tehran's nuclear program in return for the lifting of international sanctions.

[screwball]

Governor of the Central Bank of Iran has underlined the role of petrochemical companies in balancing the foreign exchange market, urging them to maximize discipline and efforts to better stabilize a volatile market.

“Unlike what some say about the performance of the petrochemical units and their role in market swings, I believe their performance has actually gone a long way in helping its stability,” Valiollah Seif also said in his meeting on Monday with petrochemical industry executives as reported by the official news website of CBI.

“The experience we have had of the performance of petrochemical units in the midst of currency fluctuations during the past few years has been one of positive collaboration.”

The sluggish activity of petrochemical firms, which are a significant source of hard currency revenue for the country, had been partially blamed for the  recent forex swings that sent the US dollar to a four-year high in Tehran last week. 

But under the current circumstances, Seif added, “we expect more discipline in the nature of their actions” because export revenues has turned into a highly influencing factor in the market. 

“In the past, the central bank injected most of the country’s foreign exchange into the market,” he said. “That is while this ratio has decreased and a huge part of the revenues is currently related to non-oil exports and in this sector, petrochemical companies boast a significant share.”

Due to a variety of factors, Iran’s foreign exchange market has recently been grappling with instability with the US dollar parity rate reaching dangerously close to the 40,000-rial threshold. 

According to the secretary-general of the Association of Petrochemical Industry Corporations, petrochemical companies have reached an agreement with CBI to inject currency into the market on an orderly weekly basis.

“On the other hand, should the CBI’s supply dwindle on some days, petrochemical companies will prevent large-scale fluctuations in the market by increasing their supply,” Ahmad Mahdavi also said in an interview with Mehr News Agency.

  Steady Supply 

Mahdavi said currently 20% of the forex revenues of Iranian petrochemical companies are spent to purchase “catalysts, additives, spare parts and equipment from other countries” and the remaining 80% are directly injected into the market.

“In the past 10 weeks, petrochemical companies have injected about 78% of their forex income into the market and it has been agreed that this process will be gradual and permanent,” he said.

The CBI chief noted that although the petrochemical industry has stuck with its organized weekly plan, sometimes the nature of their performance is out of sync with the submitted plan and that causes lack of discipline in the forex market.

Therefore, the CBI comes into play to fill in for what its governor calls a “void” and by assessing the amount of currency supply to the market by exporters, “it strictly seeks to provide for the lack of currency resulting from the absence of petrochemical units”.

Commending their contribution to the stability of foreign exchange market, Seif asked them to commit to discipline more than ever to protect “the current achievements”. He, however, did not elaborate on these achievements. 

According to Mahdavi, Iranian petrochemical companies currently distribute the revenues earned from exports in dollar, euro and dirham.

“All their currency is distributed solely through exchange centers that are approved by the central bank and are sold to people and other applicants in the form of payment orders,” he said.

According to the official, Iran’s petrochemical forex revenues are between $10-12 billion that could potentially rise to $20-25 billion in a more than twofold increase “with the implementation of the sixth five-year development plan (2016-21)”.

The plan–under review by the parliament–outlines the government’s plans and strategies for the next five years.

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[screwball]

he Oil Ministry has approved a proposal by the Industrial and Commercial Bank of China for financing the development of Mehran Petrochemical Complex in Ilam Province, said a local official hoping for the quick implementation of the plan.

“An estimated 41 trillion rials ($1.27 billion at the official exchange rate) are needed for the development of the project. ICBC has agreed to provide 85% of the amount, while shareholders of the project will provide the remaining 15%,” Heidar Nemati, director of Ilam provincial investment department, was quoted as saying by IRNA.

“A letter of intent was signed between the Mehran complex and the Chinese bank.”

Mehran Petrochemical Complex’s output will include propylene, phenol formaldehyde resin, polyol and acrylic acid.  

Back in April, the domestic media reported that China National Technical Import & Export Corporation had also agreed to invest about $1.9 billion in Mehran petrochemical plant. 

“Upon the completion of the petrochemical complex, Iran will no longer need to import raw materials for its downstream petrochemical and polymer industries,” Nemati said, noting that the plant will create 1,000 jobs. 

Earlier this week, Central Bank of Iran officials announced that the Chinese banking giant is taking steps for starting operations in Iran, although it was not clear whether ICBC is planning to open a branch or a representative office in Tehran. 

With total assets worth $3.616 trillion, ICBC is the top lender on The Banker’s Top 1,000 World Bank rankings for 2016 and first on the Forbes Global 2,000 list of the world’s biggest public companies in 2016.  It is one of China’s top four state-owned commercial banks. 

Bank of China, another member of the big four club, has also expressed willingness to enter Iran and open a representative office.

[screwball]

hey may not be dead, but the Airbus and Boeing commercial aircraft deals struck this year with Iran likely will remain unresolved orders well into 2017 now that US lawmakers have fired their first post-election salvo, the American monthly trade publication Industry Week wrote in an article. Below is the full text.

On Nov. 17, the House of Representatives voted 243-174 to pass a bill that, if enacted, would block the Treasury Department from issuing certain trade licenses to finance aircraft sales to Iran. The vote comes nine days after Donald Trump was elected the next US president, following a campaign in which he pledged to scrap the current nuclear agreement with Iran that opened the way for the 200-plus aircraft deals.

The new bill applies equally to both Airbus and Boeing, according to a major sponsor, Rep. Peter Roskam. It further bars the US Export-Import Bank from facilitating such deals, including indirectly. 

Yet, the bill does not stop or outright forbid commercial aircraft sales, it simply bars banks overseen by the US from participating in such deals or the use of taxpayer funds to facilitate them. 

What is more, the measure is unlikely to move further in the lawmaking process until after Trump takes the Oval Office, as President Obama has promised to veto a related bill and Congress is too divided to override him.

So, proponents will have to reintroduce the bill in the new session of Congress that begins in January. Even then, Democrats, especially in the Senate, could fight it off successfully, as they have to date. 

They might also eventually find some Republican allies—as they did in the fight over reauthorizing Ex-Im, since both OEMs have extensive manufacturing and supply chain providers across the US. Still, the vote last week saw just eight House Democrats join 235 Republicans to pass the bill.

In January, Airbus was first to sign a preliminary agreement with Iran Air for up to 118 aircraft, including 21 A320ceos, 24 A320neos, 27 A330ceos, 18 A330-900s and 12 A380s. Boeing followed in June with a letter of agreement for more than 100 airliners, including about 70 single-aisle aircraft and an unspecified number of 747-8s. 

While Chicago-based Boeing is obviously a US company, Toulouse-based Airbus also needs US Treasury licenses, as more than 10% of its commercial airplanes and components are supplied by American companies or manufactured in the US, subjecting it to US sanctions. Airbus says it spends 42% of its commercial aircraft procurement resources in the US.

Treasury in September had granted Boeing an export license that covers 80 aircraft via direct sale and another 29 whose sale the OEM will help facilitate for leasing companies. 

At the time, it also granted Airbus approval for the sale of just 17 aircraft, with licensing for the rest expected imminently. On Nov. 23—six days after the House vote—officials reportedly followed with licenses for up to 106 Airbus aircraft. 

  Financing Remains Central

Nevertheless, financing remains central to the deals being completed and the new bill makes the options clear. Iran can either pay in cash, all of the parties involved can find financing not subject to the long arm of US law, or some combination of both.

Dubai Aerospace Enterprise reportedly is lined up to lease the first 18 Airbus aircraft to Iran Air, thus skirting US restrictions, at least initially.

Boeing’s representatives say they did not plan on seeking Ex-Im backing and they made that clear to the Iranians. But Boeing has not discussed whether or where it will seek financing.

In turn, no one seems to be banking on the deals being finalized any time soon and some analysts say they remain as far-fetched as ever.

“I’m not privy to the Iranian side of the equation, but comments from Airbus have suggested that financing for this deal is a must. So with no financing, we have no deal,” says Vertical Research Partners defense analyst, Robert Stallard. 

“I would agree with many in the industry that always described the Iranian deal as a long shot, but it would have helped Airbus and Boeing fill some delivery gaps for their most vulnerable models, like the 777 and the A380.”

  Another Obstacle: 

Cape Town Convention

Richard Aboulafia, vice president of analysis at Teal Group, echoes the doubts. 

“It was never all that likely to have happened as planned,” he says, pointing to the Cape Town Convention as another obstacle. 

The 2004 treaty establishes international standards for property rights of movable assets such as aircraft and it explicitly provided a benchmark for aircraft lessors and other aviation dealers. 

Iran was not a signatory, limiting its attractiveness in the international aircraft market.

“It looks dead to me,” Aboulafia adds of the Airbus and Boeing deals. He expects Iran will return to its quieter, slower and untraditional means for acquiring commercial aircraft, as it has for the last three decades. As for the manufacturers, life goes on. 

“I don’t think there is much damage at all,” he tells Aviation Week. “It is just a lot of confusion.”

Sanford C. Bernstein analysts said as much in a Nov. 21 note to investor clients. 

“Trump has said he supports Boeing sales to Iran, but also said he would stop the Iran nuclear deal,” they say. “It is unclear how this will play out, but no one should have been modeling Iran sales as a sure thing in any case.”

Moody’s Investors Service Senior Vice President Russell Solomon says he is less optimistic about a deal getting done now, but advises against writing it all off. 

“There is likely to be financing at some level—even if not for the full 200-plus aircraft initially targeted—just not from traditional sources [with US branches],” he says. “And it is a much smaller universe of potential funding sources with Iran not being part of the Cape Town Convention.”

In September, Solomon issued a report that described the deals as marginally beneficial to industry. 

“Iran affords large commercial aircraft manufacturers a prospective boost of up to 3% to future industry demand through the next decade, or about 400-500 jets for Iranian airlines,” he said.

[screwball]

arif: Iran safest market for foreign investors

Tokyo, Dec 7, IRNA – Iranian Foreign Minister Mohammad Javad Zarif described Iran as one of the safest regional countries and a safe market for foreign investors.

 

Zarif made the remarks addressing the first Iran-Japan trade conference in Tokyo on Wednesday morning. 

He pointed to old-age and good relations between Tehran and Tokyo, and said, 'Trade institutions are engine of two countries' economic relations.

Zarif also said that Iran is one of the safest regional countries which provide good opportunity for the foreign investors to benefit from it. 

The first conference on Iran-Japan trade started work at the presence of the Iranian foreign minister and senior Japanese economic officials in Tokyo on Wednesday morning. 

A large number of Iranian and Japanese businessmen are participating in the conference in Tokyo city. 

Zarif arrived in Tokyo on Wednesday morning local time on the head of a high ranking politico- economic delegation for talks with Japanese senior officials. 

Zarif visited India and China prior to Tokyo and it is the last and third leg of his tour.

He is scheduled to meet with his Japanese counterpart, prime minister as well as some other senior officials.

Zarif is to discuss bilateral ties and the current regional and international issues with Japanese high ranking officials.

He will deliver speech to Japan International Studies Institute as well as in an economic seminar in presence of Iranian and Japanese businessmen.

Directors from 38 big companies, 15 from knowledge-based companies and eight commercial banks as well as a number of industrialist and businessmen are accompanying Foreign Minister Zarif.

2050**2050

[screwball]

Iran-Japan economic, trade conference kicks off in Tokyo

Tokyo, Dec 7, IRNA – The first conference on Iran-Japan trade started work at the presence of Iranian Foreign Minister Mohammad Javad Zarif and senior Japanese economic officials here on Wednesday morning.

 

A large number of Iranian and Japanese businessmen are participating in the conference in Tokyo city. 

Zarif arrived in Tokyo on Wednesday morning local time on the head of a high ranking politico- economic delegation for talks with Japanese senior officials. 

Zarif visited India and China prior to Tokyo and it is the last and third leg of his tour.

He is scheduled to meet with his Japanese counterpart, prime minister as well as some other senior officials.

Zarif is to discuss bilateral ties and the current regional and international issues with Japanese high ranking officials.

He will deliver speech to Japan International Studies Institute as well as in an economic seminar in presence of Iranian and Japanese businessmen.

Directors from 38 big companies, 15 from knowledge-based companies and eight commercial banks as well as a number of industrialist and businessmen are accompanying Foreign Minister Zarif.

2050**2050

[screwball]

TEHRAN – Iranian Finance and Economic Affairs Minister Ali Tayyebnia said Iran welcomes foreign investment and offers investors with a variety of incentives, IRNA reported.

Speaking at the 20th general meeting and conference of Asia-Pacific Central Securities Depository Group (ACG20) in Tehran on Tuesday, the minister explained some of incentives which foreign investors can benefit from in the country.  

Tayyebnia also voiced Iran’s readiness to broaden mutual economic cooperation with world economies, saying “Iranian economic institutions welcome other countries’ plans for further development of economic ties.”

According to the official, a 20-year tax exemption and easy visa-free residency are among advantages awarded to foreign investors in Iran’s free zones. 

Addressing the same gathering, the head of Iran’s Securities and Exchange Organization (SEO) Shapour Mohammadi said that SEO is paving the way for foreign investors entering Iran’s capital market.

“Affected by post-JCPOA atmosphere, Iran’s capital market has become one of the world’s most attractive markets for investors,” he highlighted.

ACG was founded in November 1997 as an informal international organization and has been holding annual meetings since then.

The organization has 34 members from various countries in the region including Iran, China, South Korea, Australia, New Zealand, Japan, Indonesia, Malaysia, India, Bangladesh, Hong Kong, Kazakhstan, Maldives, Mongolia, Singapore, the Philippines, Sri Lanka, Taiwan, Thailand and Uzbekistan.

EF/MA/MG

[screwball]

After January 2017, Iran will launch its first new-style tender to develop oil and gas fields since the lifting of sanctions, said an oil official, noting that the deadline for submission of pre-qualification documents has been extended until December 10.

OPEC's third-largest oil producer hopes its new Iran Petroleum Contracts (IPC), which is part of an effort to sweeten the terms it offers on oil development deals, will attract foreign companies and boost production after years of under-investment, Reuters reported.

Ali Kardor, managing director of the National Iranian Oil Company (NIOC), said that 50 international oil companies have so far submitted their documents for the tender.

"We will assess the documents for a month and after that, probably after January, the first oil tender will be held ... for South Azadegan Oilfield," Kardor said.

He noted that Iran has extended the deadline for international oil companies to submit pre-qualification documents for tender from Nov. 25 to Dec. 10.

This apparently is the second extension since the NIOC's website said in late November that the deadline had been extended to December 4.

[screwball]

Head of Iran’s National Space Center, Manouchehr Manteqi, said the French plane manufacturer Airbus plans to cooperate with the Islamic Republic in joint projects to produce aircraft parts in the near future.

"We will soon begin cooperation with Airbus in the manufacture of aircraft parts,” Manteqi said on Monday, Tasnim News Agency reported.

Spare parts manufacturers are the most important link in the chain in the process of building airplanes, the Iranian aviation official noted.

Airbus announced in September that it had received the US Treasury Department’s approval to sell aircraft to Iran. The company – together with its American rival Boeing – had earlier this year sealed deals with Iran to sell some 200 planes to Iran.

Back in October, Iran’s Minister of Road and Urban Development Abbas Akhoundi said the country would finalize a contract with Airbus for the purchase of jetliners in the near future.

On October 3, Akhoundi said his ministry and Airbus representatives held negotiations in Tehran a week earlier following the US decision to remove a final hurdle for Western aircraft manufacturers to sell planes to Iran.

"The contract with Airbus will be finalized soon,” he added at the time.

During a visit to Paris in January by Iranian President Hassan Rouhani, Tehran signed a major contract with Airbus worth about $27 billion to buy 118 aircrafts.

Iran also sealed a deal in June worth around $25 billion with the US aerospace heavyweight, Boeing, for the purchase of 100 passenger planes.

[screwball]

Remember to do your due diligence with OSI....

[WheresmyRV?]

7 hours ago, millionaire in training said:

Yes like PP said .....Off Shore Investment.  The more you understand it the more you realize that you need it.  We are fortunate that Adam has it in place here for members. Understanding how you will benefit from it is the key.  Before I came on this site it WAS on my agenda. Adam just made it easier for me. We have an OSI group here on this site with a whole lot of information. We're just not suppose to talk about it in open forum. If you are interested in joining Im sure if you PM Adam he'll be more than happy to assist you and answer any questions you might have. OSI has alway offered lots of information for like minded people like us.  I would highly recommend it.  For me and my future it's a must have.    

Thanks Mit and PP for clearing what OSI is.  Mit do I have to be part of Adams VIP group do get involved with his OSI?

[pokerplayer]

This was posted by DoD in a different thread . Not my find but thought relevant. I'm not even sure what there trying to say here ? 

Anyone want to take a stab at it ?

pp

 

Iran make changes to the local currency

economy

 Since 12/07/2016 16:27 pm (Baghdad time)

Follow-up scales News

The Iranian government has decided, Wednesday, December 7 / December, at a meeting to delete the zero from the local currency and the launch Altoman by name instead of the rial.

According to the government website, "each one Toman equal to 10 riyals, and so the local currency be lost zero."

He was called on Iran's local currency before this decision riyal name but in commercial transactions was being zero cancel them and renamed it Toman. With this new decision will be abolished from scratch on the banknote and becomes a deal on behalf of Altoman.

The Iranian domestic currency many zeros, where one US dollar is equal to 39,000 rials in the free market, and now every dollar equals 3900 Toman.anthy 29 / tc n

http://www.mawazin.net/%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D8%AA%D8%AC%D8%B1%D9%8A-%D8%AA%D8%BA%D9%8A%D9%8A%D8%B1%D8%A7%D8%AA-%D8%B9%D9%84%D9%89-%D8%B9%D9%85%D9%84%D8%AA%D9%87%D8%A7-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A%D8%A9

[blueskyline]

Pp it seems 1 USD now equal 3900 altoman / toman or quite possibly 390 toman . It also appears that Altoman / Toman is now the name of the local currency 

[pokerplayer]

1 hour ago, blueskyline said:

Pp it seems 1 USD now equal 3900 altoman / toman or quite possibly 390 toman . It also appears that Altoman / Toman is now the name of the local currency 

So were doe's that leave us Blue ? Does our Riel change in value ? Good or Bad ?

Cheers, pp

[blueskyline]

Pp I don't want to get ahead of myself . I feel it is for the good . I remember Screwball posting that it is in their Constitutional Law to remove 4 zeros . Let's see what Screw ball says . If they follow law and my understanding of the new named local currency the Toman and its zero or zeros is correct. 1 Toman would be worth .39 cents to the Dollar 

[blueskyline]

Right now they have removed 1 zero . That makes the Toman worth 390 to 1 USD .

[WheresmyRV?]

On Saturday, December 03, 2016 at 8:44 AM, pokerplayer said:

 

[pokerplayer]

Thxs Blue. Guess I will wait as well for SB's take on this. ( out of green ones already so I owe you one ) Also does that mean our Riel are worth .03 each ?

pp

[WheresmyRV?]

Would this make the rial we hold worthless?

[pokerplayer]

1 hour ago, WheresmyRV? said:

Would this make the rial we hold worthless?

 

I don't think so but really can't say at moment. Will do some checking on this.

pp

[markb57]

Ok, now that everyone's blood pressure just jumped.................