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Iranian Rial


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4 hours ago, Dollar Bill said:

So what's the exit strategy for rial holder when the old notes are going to be replaced? 

 

Depends on what stipulations are put into place as well as what the riel is worth. How long will the old bills still be worth something in circulation, what sanctions are in place, ect.

 

If they are worth lots, then I will fly to a country were I can exchange them.

 

It still remains to be seen, once Iran makes the change then I guess you can ask this question again.

 

  Cheers, pp

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6 minutes ago, Freedomwish said:

Guys, guys I just found this article I'm trying to post it via my cellphone.....please share some insight, just in case to prevent myself from catching a heart attack :shrug::facepalm: https://www.tehrantimes.com/news/436240/Integrated-forex-market-to-be-launched-in-a-month

 

June twenty-something seems to be a big deal. 

Maybe Trump’s tariffs woke up the GCR.

Who knows. Maybe that’s his big announcement in two weeks.

Thanks! 

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1 hour ago, Freedomwish said:

Guys, guys I just found this article I'm trying to post it via my cellphone.....please share some insight, just in case to prevent myself from catching a heart attack :shrug::facepalm: https://www.tehrantimes.com/news/436240/Integrated-forex-market-to-be-launched-in-a-month

HERE IT IS!

Integrated forex market to be launched in a month’

May 22, 2019
 
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TEHRAN- The chairman of the Economic Committee of Majlis announced that an integrated forex market will be launched in the country by the end of current Iranian calendar month of Khordad (June 21), IRNA reported.

Mohammadreza Pour-Ebrahimi said by launching this market the other exchange rates like the Sana rate will be omitted gradually.

Central Bank of Iran (CBI) ’s online Sana system, accessible at sanarate.ir, is a website that records daily forex trade from across the domestic exchange bureaus.

The official further said that the measures taken by the government specially by the CBI over the past months in order to organize and integrate the forex market have laid the ground for creating balance in this market.

On Monday, Iranian finance and economic affairs minister announced that all necessary measures have been taken for launching an organized forex market.

Farhad Dejpasand said the ministry have done all legal actions to this end and just the affairs related to the company (which is to be set up for such market) are being performed.

Dejpasand said the mentioned market is due to set the real foreign currency exchange rates.

Establishment of this market has been approved by the Money and Credit Council (MCC), the highest banking policy-making body of the Central Bank of Iran (CBI), on January 8 as the CBI aims to explore the real volume of demand and supply in the foreign currency market through a new mechanism.

Regarding this market, a CBI official said on May 5 that the new mechanism aims to organize the transactions in the foreign currency exchange market between the exchange shops, Mehr news agency reported.

MA/MA

 

 

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8 hours ago, jg1 said:

TEHRAN- The chairman of the Economic Committee of Majlis announced that an integrated forex market will be launched in the country by the end of current Iranian calendar month of Khordad (June 21), IRNA reported.

 

Thanks jg1......well >ahem!<.....(pouring myself some scotch)...........JUST WHAT DOES THIS MEEEEEANNN?!! PLEEEEEEAAAASE?!!:facepalm2::confused::eek::rocking-chair:

tenor.gif?itemid=14320537 

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  • 1 month later...
On 7/20/2019 at 3:01 PM, climber7 said:

It's been over a month since a post her at foreign currencies. Is that a record??

 

Anyone have any info on rial or V.D.? 

 

Not much of the same political blah blah blah....until I just saw this: 

Don’t Look Now, President Trump: Iran’s Currency Is Soaring

https://www.bloomberg.com/news/articles/2019-07-18/don-t-look-now-donald-trump-iran-s-currency-is-soaring

 

"Political Theater" :confused2:

 

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Iran: Rial Revaluation Issue Returns

 
Rial Revaluation Issue Returns
Rial Revaluation Issue Returns
. . . . .

T he government on Wednesday approved a central bank proposal based on which four zeros will be shaved off and the national currency rial and the change from official rial to the popularly used toman. 

The Cabinet discussed the proposed bill in weekly meeting chaired by President Hassan Rouhani. To become law the bill must be debated in parliament.

Among other things, the initiative aims to improve the value of the rial, facilitate transactions, cut the cost of printing banknotes and coins and enhance the efficiency of the lethargic monetary system, the government website, dolat.ir reported. 

Lopping of four zeros should simplify the workings and transactions in the stock market and banking system, says Mohammadreza Pourebrahimi, a member of the Majlis Economic Commission. 

He said the bill will likely be approved by lawmakers because the “Majlis holds a positive view toward the proposal,” the parliamentary news agency ICANA quoted him as saying. 

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Hey guys, I can't access the DV site at my job, doing my best to copy and paste a link here from my cellphone.  "Iran: Government approves plan to re-denominate rial currency and transition to new name of Toman".  It isn't over until it's over, but please read this article and give it some thought.  Just my sober opinion, I continue to feel Iran is proceeding somewhat ahead of what Iraq is planning to do with their own currency.  It's too hard NOT to take notice that both Iraq's and Iran's current monetary plans seems both similar, that I see here Iran wants to take steps and measures ahead of the "rush"? :shrug::praying:

 

Link: http://news.coinupdate.com/iran-government-approves-plans-to-re-denominate-rial-currency-and-transition-to-new-name-of-toman/

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This here what's getting to me, just try to read "in between the lines":...."If the government's plan is carried out, the rate will be recalculated to 12 Rials (1.2 Tomas) equaling one dollar. As part of the plan to revise the Iranian economy and currency, which was first proposed in December 2016".  :shrug: Does this itch anyone here needing a scratch? Or do I need more whiskey? :facepalm:🥃

Edited by Freedomwish
Prayers and whiskey
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I personally don’t see Iran doing a lop, do they have to? What impact will this have? they stated in hundreds of ar5icles that it will cause an economic boom.. explain to me how a lop will do this? With all their gold, forex reserves an oil why would they not remove zeros and adjust rate? What do their Birchers in Iraq want? Can you see one country like Iraq and kuwait have a strong currency and Iran not? Forget LOP theories! Also remember trump has said must rejoin the international monetary system?he also said they will be a powerouse? Only a stronger rial will do this?

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On 6/16/2019 at 9:35 AM, pokerplayer said:

 

Depends on what stipulations are put into place as well as what the riel is worth. How long will the old bills still be worth something in circulation, what sanctions are in place, ect.

 

If they are worth lots, then I will fly to a country were I can exchange them.

 

It still remains to be seen, once Iran makes the change then I guess you can ask this question again.

 

  Cheers, pp

Exactly and until they do it we remain focused...

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