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Any good news is a blessing. I suspect come the Nov. sanctions that we will have a long " break even " for something to start to happen. I will admit I am optimistic will will see sharp increase if the European body and Iran come to some sort of trading/Banking agreement is reached. Thxs for the article blueskyline. +1 for the time you took to post this.

 

  JMHO,  pp

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the way trump is screwing with  Saudi Arabia  ,  and the reply Saudi Arabia gave back  ,  if this goes to the next step we will see the repeat of 1972  ( gas line )  ( just thinking with folks only  ) ------ if Saudi Arabia  , cuts oil and squeezes  the other opic boys  , -------- only group in the game ------- Iraq oil ,  and the opic guys will not like to have their piece of pie thrown away , they either will give Iraq grief , or something I haven`t thought of , or I would say it . so if Iraq gets in a bind , Iran  will move on something , break sanctions , sell too Russia and Syria , and get their money in line with those , but international  might be a bit tricky ,  and this might push Iraq to finally do something with the dinar . or go bust !   something  in the back door works for sure ... (  I might even be talking in the wrong thread  ,  but  just the currency  and iran  ,  what could be the price  if it goes that way ?  ....sure feels  like  something is  building up too a heck of a blow  ...  ( money ?  oil crunch ?   just  throwing it at the fan  see what   fall out )  
  

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I just wish we would get off from being dependent on foreign oil when we have our own oil that we are drilling right now.  Tell the middle east no more oil from you guys anymore.

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6 hours ago, jeepguy said:

the way trump is screwing with  Saudi Arabia  ,  and the reply Saudi Arabia gave back  ,  if this goes to the next step we will see the repeat of 1972  ( gas line )  ( just thinking with folks only  ) ------ if Saudi Arabia  , cuts oil and squeezes  the other opic boys  , -------- only group in the game ------- Iraq oil ,  and the opic guys will not like to have their piece of pie thrown away , they either will give Iraq grief , or something I haven`t thought of , or I would say it . so if Iraq gets in a bind , Iran  will move on something , break sanctions , sell too Russia and Syria , and get their money in line with those , but international  might be a bit tricky ,  and this might push Iraq to finally do something with the dinar . or go bust !   something  in the back door works for sure ... (  I might even be talking in the wrong thread  ,  but  just the currency  and iran  ,  what could be the price  if it goes that way ?  ....sure feels  like  something is  building up too a heck of a blow  ...  ( money ?  oil crunch ?   just  throwing it at the fan  see what   fall out )  
  

I think this is a part of the next step of China demanding Saudi Arabia take Yuan for their oil because they are now the largest oil consumer . Further separation along the new Trade route agreements of New one Belt one Road. And the new Nafta agreements . That's just my opinion though

 

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SECRETARY MNUCHIN: Thank you very much. Since the beginning of the Trump administration, the Treasury Department has been committed to putting a stop to Iran’s destabilizing activities across the world. We’ve engaged a massive economic pressure campaign against Iran, which remains the world’s largest state sponsor of terrorism. To date, we have issued 19 rounds of sanctions on Iran, designating 168 targets as part of our maximum pressure campaign. We have gone after the financial networks that the Iranian regime uses to fuel its terrorist proxies and Hizballah and Hamas, to fund the Houthis in Yemen, and to support system" rel="">support the brutal Assad regime in Syria.

 

The 180-day wind-down period ends at 11:59 p.m. Eastern Standard Time on Sunday November 4th. As of Monday November 5th, the final round of snapback sanctions will be enforced on Iran’s energy, shipping, shipbuilding, and financial sectors. As part of this action on Monday, the Treasury Department will add more than 700 names to our list of blocked entities. This includes hundreds of targets previously granted sanctions relief under the JCPOA, as well as more than 300 new designations. This is substantially more than we ever have previously done. Sanctions lifted under the terms of Iran’s nuclear deal will be reimposed on individuals, entities, vessels, and aircraft that touch numerous segments of Iran’s economy. This will include Iran’s energy sector and financial sectors. We are sending a very clear message with our maximum pressure campaign that the U.S. intends to aggressively enforce our sanctions. Any financial institution, company, or individual who evades our sanctions risks losing access to the U.S. financial system and the ability to do business with the United States or U.S. companies. We are intent on ensuring that global funds stop flowing to the coffers of the Iranian regime.

 

I want to make a couple of comments on the SWIFT messaging systems since I’ve received lots of questions about this over the last few weeks. So I’d like to make four points. Number one, SWIFT is no different than any other entity. Number two, we have advised SWIFT the Treasury will aggressively use its authorities as necessary to continue intense economic pressure on the Iranian regime, and that SWIFT would be subject to U.S. sanctions if it provides financial messaging services to certain designated Iranian financial institutions. Number three, we have advised SWIFT that is must disconnect any Iranian financial institution that we designate as soon as technologically feasible to avoid sanctions exposure. Number four, just as was done before, humanitarian transactions to nondesignated entities will be allowed to use the SWIFT messaging system as they have done before, but banks must be very careful that these are not disguised transactions or they could be subject to certain sanctions. Thank you very much.

 

 

giphy.gif

 

Damn, damn, damn, damn........oh well, I guess it's been a good run for hoping so? :shrug:

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https://english.alarabiya.net/en/business/economy/2018/12/09/Iran-Supreme-Leader-urges-currency-boost-amid-months-long-rial-plunge.html....

Iran supreme leader urges currency boost amid months-long rial plunge

308fd272-2de7-4457-ad42-048e97819a7d_16x
A 2,000 rial Iranian banknote showing Ayatollah Ruhollah Khomeini and a handwritten pro-opposition graffiti in Farsi. (File photo: AP)
Reuters, DubaiSunday, 9 December 2018

Iran’s Supreme Leader Ayatollah Ali Khamenei has “ordered” the central bank to boost the value of rial, the bank’s governor said on Saturday, after a months-long plunge in the currency due to a faltering economy and US sanctions.

The state news agency IRNA quoted Governor Abdolnaser Hemmati as saying Ayatollah Khamenei “ordered the bank at a recent meeting to increasingly strengthen the national currency and called for the observance of the independence of the central bank”.

“The central bank and the banking system will use all of its managerial power and expertise to fulfill the Leader’s goals,” Hemmati said.

He did not say which policies he would follow to support the rial, which has lost about 65 percent of its value in 2018. The rial’s plunge had reached about 75 percent in the past few months, but it has recovered some of its value in recent weeks.

The currency has been volatile for months because of a weak economy, financial difficulties at local banks and heavy demand for dollars among ordinary Iranians to protect their savings as the United States withdrew from a landmark 2015 nuclear accord and piled pressure on Iran by reimposing sanctions.

Last Update: Sunday, 9 December 2018 KSA 00:03
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1 hour ago, blueskyline said:

https://english.alarabiya.net/en/business/economy/2018/12/09/Iran-Supreme-Leader-urges-currency-boost-amid-months-long-rial-plunge.html....

Iran supreme leader urges currency boost amid months-long rial plunge

308fd272-2de7-4457-ad42-048e97819a7d_16x
A 2,000 rial Iranian banknote showing Ayatollah Ruhollah Khomeini and a handwritten pro-opposition graffiti in Farsi. (File photo: AP)
Reuters, DubaiSunday, 9 December 2018

Iran’s Supreme Leader Ayatollah Ali Khamenei has “ordered” the central bank to boost the value of rial, the bank’s governor said on Saturday, after a months-long plunge in the currency due to a faltering economy and US sanctions.

The state news agency IRNA quoted Governor Abdolnaser Hemmati as saying Ayatollah Khamenei “ordered the bank at a recent meeting to increasingly strengthen the national currency and called for the observance of the independence of the central bank”.

“The central bank and the banking system will use all of its managerial power and expertise to fulfill the Leader’s goals,” Hemmati said.

He did not say which policies he would follow to support system" rel="">support the rial, which has lost about 65 percent of its value in 2018. The rial’s plunge had reached about 75 percent in the past few months, but it has recovered some of its value in recent weeks.

The currency has been volatile for months because of a weak economy, financial difficulties at local banks and heavy demand for dollars among ordinary Iranians to protect their savings as the United States withdrew from a landmark 2015 nuclear accord and piled pressure on Iran by reimposing sanctions.

Last Update: Sunday, 9 December 2018 KSA 00:03
they can say anything they want but, now one will be working with them...when they are shooting missals , and Acting like idiots 

 

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On 12/22/2018 at 7:23 PM, climber7 said:

We need some fresh news here lol 

 

Meh.....something is something I suppose....more whiskey later :confused2::drunk:

 

Iranian Rial Regains Lost Value as Forex Market Returns to Stability

https://ifpnews.com/exclusive/iranian-rial-regains-lost-value-as-forex-market-returns-to-stability/

 

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Good see another thread carry’s all the new delete zeros articles..be nice to bring some over...let’s hope Dubai trip is coming soon, or where ever we have to go..

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Iran's central bank plans to delete 4 zeroes from the currency

Editorial date: 2019/1/6 10:04 • 782 times read
 Iran's central bank plans to delete 4 zeroes from the currency
(International: Al Furat News) A deputy in the Islamic Shura Council in Iran, (parliament) revealed the intention of the central bank in the country to delete four thousand of the Iranian currency.

"The governor of the Central Bank of Iran Abdul-Assad Hamati, announced that the liquidity of 1700 thousand billion Tuman lost 30 percent of its capacity due to inflation." 
He added that the governor of the bank confirmed that the bank plans to delete four zeros from the national currency and that he should take the initiative quickly and the banking system should be reformed. " 
Papai said to the meeting of the bloc held on Sunday in the presence of Central Bank Governor Abdul Nasser Hamti to discuss the status of the country's reserves Of hard currency and inflation in society. " 
He said that the governor of the bank pointed out at the meeting that the central bank in front of two important challenges are the hard currency and the national currency and at a time when the people suffer from the size of inflation, we find that the value of foreign currency tended to stability.
He said that Hamati also pointed out that the US president is forced to retreat daily after he claimed the collapse of the Iranian economy says today that the Iranian national currency is now besieged. 
"" The central bank governor announced that the government never plans to revalue the hard currency and we have to achieve better, " 
The governor said that the reason for the non-decline in the value of hard currency is due to the perception that the value of hard currency will increase again, noting that the road is open with China and South Korea on his way to deal with India while talking with Turkey in this area. " 
Haji Babai announced that Hemmati said he could not hold hopes too much on the European channel, but it should work on the claim ".anthy

 
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Iran: Idea of Lopping Off Zeroes From Rial Reemerges 

 
Iran: Idea of Lopping Off Zeroes From Rial Reemerges
Iran: Idea of Lopping Off Zeroes From Rial Reemerges 

Governor of the Central Bank of Iran Abdolnaser Hemmati said Sunday the regulator has proposed to the government lopping off four zeros from the rial.

In a meeting with a group of lawmakers, Hemmati said if endorsed by the government the proposal will be sent to the parliament to become law. 

Head of the Majlis Economic Commission said the decision to drop four zeros from national currency is on the parliament agenda and studies about the CBI proposition are underway.  

Mohammad Reza Pour-Ebrahimi said it was proposed initially to lop one zero off the rial but as dropping zeros incur high costs, dropping four zeros instead of one seemed more reasonable.

 

 

note: as I said majlis want four, cabinet proposed one back in dec 2017....shirts getting interesting 

 
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Interesting photo in back ground....don’t think they have 500000 note? Or is it a bank cheque either way they have photoshopped the image 

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On 1/9/2019 at 3:43 AM, screwball said:

Good see another thread carry’s all the new delete zeros articles..be nice to bring some over...let’s hope Dubai trip is coming soon, or where ever we have to go..

 

Just give us the word - I'll be packing a couple of bottles for us dude...:praying::cheesehead:

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Dropping zeros from bills to stabilize Iran economy: Agency

Madrid, Jan 12 – Iran's decision to slash four zeros from its currency will improve the economic situation in the country and gain more credibility for the currency on the international scene, a Spanish News Agency has reported.

n83167371-72773495.jpg

According to a Friday report by EFE, the idea to delete zeros from the bills in Iran was suggested a long time ago, but the depreciation of Iran's currency and galloping inflation have once again turn the spotlight on the issue. 

Last week Head of Iran's Central Bank Abdul Nasser Hemmati proposed the removal of four zeros from the country's currency, i.e. rial.

On Sunday, Hemmati announced a bill would soon be presented to the parliament to slash four zeros from the national currency. 

'The move is in many countries ushering in serious economic reforms,' Hemmati said.

Based on the report by EFE, Iran's economy requires major reforms, including in the banking system. 

Zero elimination from national currency that has taken place in many countries and most recently in Venezuela can help curb inflation, facilitate foreign currency exchanges, save costs of printing notes and increase its face value, the Spanish news agency wrote.

9477**2044

Follow us on Twitter @IrnaEnglish

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Draft bill prepared to cut zeroes from national currency

January 6, 2019
 
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TEHRAN – The Central Bank of Iran (CBI) submitted the draft of a bill to slash four zeroes from the national currency, rial, to the cabinet, Tasnim news agency quoted the governor of the CBI as saying on Sunday.

“The government submitted the bill on crossing out four zeroes of the national currency to the parliament on Saturday and we hope to reach a good result as soon as possible,” Abdolnasser Hemmati said answering the parliament members' questions.

Underlying CBI’s full control on domestic foreign currency exchange market, the banking official predicted that regarding the conducted measures, injection of foreign currency to domestic market by Iranian non-oil exporters would be accelerated in future.

Hemmati, elsewhere, named the taken measures for modification of banking system and bringing stability to monetary market among the most major CBI acts in recent months.  

As Hemmati announced few days ago, since his appointment as the CBI governor, all the required programs to amend banking system have been planned relying on ratifications of the Supreme Council for Economic Coordination and formation of Liquidity and Money Market Committee consisting of economy, monetary and banking experts besides central bank officials.

HJ/MA

 
 
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Currency reconversion not a turning point in economic reformation

January 8, 2019
 
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One of Iran’s main economic policies, under the framework of the sixth five-year development plan, is modification of banking system and reformation of monetary policies, moving forward toward which the Rouhani administration put forward the plan to shift the national currency from Rial to Toman earlier in December 2016 by eliminating specific number of zeroes.

However, the administration decided to postpone implementation of currency reconversion policy in 2016 due to some reasons including the expressed concerns about the time unfitting economic conditions which would ignite inflation and economic instability.

The policy basically seeks to facilitate monetary transactions among the Iranians and match the currency being transcribed in official documents and banking bills (rial) with the one utilized in real daily lives of Iranians (toman). Rial has practically been replaced by Toman in daily transactions as the result of the cumulative inflation over the recent years.    

On Saturday, the Central Bank of Iran (CBI) submitted the bill on lopping off four zeroes of the national currency to the cabinet, the act which drew public attention to the issue again, forming a chorus of criticism and speculations.

Through its proposed bill, the CBI seems primarily able to re-empower the depreciated national currency, tangibly decrease the ever-increasing liquidity volume, and make a nominal reduction in prices of goods and services in the country.

The most remarkable achievements of implementing the bill, however, would be a psychological one among the society.  Shifting from rial, the free market exchange rate of which is presently about 110,000 against the U.S. dollar, by cutting four zeroes to toman may cover the psychological aspects of the inflationary impacts of rial devaluation, which has unprecedentedly increased prices in Iran. It is said to be able to recover national currency’s value against U.S. dollar to some extent and cool down the inflated prices, as well.

Omitting zeroes from the national currency would surely facilitate calculations and money transfers in daily transactions and would seemingly retaliate for the sharp recent rial devaluation but it should not be expected to improve Iranians purchasing power at all.

It would not have any specific impact on economic indices, inflation, investments, job creation or demand and supply, either.

As a matter of fact, economic stability and single-digit inflation rate are the most significant prerequisites of implementing currency reconversion while Iran is experiencing none of the named factors.

Currency reconversion per se would have an inflationary effect. To curb its inflationary impact, it must be done simultaneous with taking contractionary measures and modifications in monetary policies.

In addition, printing new banknotes and injecting them to the market would impose an amount of costs on the shoulder of the central bank.

Addressing the issue in an interview with the Tehran Times, the Iranian economist and President of Iran World Trade Center Mohammad Reza Sabzalipour said that “the government aims to hit several targets with one shot.”

“It seeks to control money and liquidity volume in the society i.e. cutting four zeroes would change the present 17 quadrillion rials (about $404 billion) of liquidity down to 1.7 trillion rials (about $40.4 million) overnight,” he explained, “but the zeroes will incrementally come back and liquidity will be increased over time, in case CBI continues printing fiat money.”

“The act would appease the public opinion just for a short time when they see the price numbers of the goods and services are decreased but after a while when their income also comes with lower zeroes, they will find out that what has happened has not improved their commonwealth,” he added.

“There is no reason for us to consider a national currency with less zeroes a more valuable one,” Sabzalipour said, “having a strong economy is not necessary related to having a national currency with low number of zeroes but to positive trade balance and high quality of the nation’s livelihood.”

“The decided monetary reconversion is mere a political and a psychological move,” he underscored.

What the government is getting prepared to do should not be expected as a revolutionary step in Iran’s economic and banking reformations, that would bring the nation a better livelihood and a more prosperous economy.

It is a postponed measure that has not been implemented in previous years due to lack of proper economic conditions and it is being done under the circumstances that the country is experiencing the toughest economic conditions in its history thanks to the U.S.-led draconian sanctions and when a rampant inflation rate is expected for the upcoming Iranian year.

The costly currency reconversion would, for sure, facilitate money transfer and calculations in daily transactions and also reduce the volume of exchanged paper money and etc., but its effect would be neutralized and the omitted zeroes would snap back one after the other in the long-run, in case of monetary mismanagement or any other unpredicted international, political or economic event which would threaten the economy.

HJ/MA   

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Iran's CB Governor: Banking Reform First, Redenomination Afterwards

 
Banking Reform First, Redenomination Afterwards
Banking Reform First, Redenomination Afterwards

The governor of Central Bank of Iran says the initiative to remove four zeros from the national currency will take up two years because first the legal and technical infrastructure must be in place. 

Outlining details about his proposal on the CBI website,  Abdolnasser Hemmati said Monday that the measure is part of a comprehensive reform of the bloated banking industry with efficient monetary and supervisory tools. 

He emphasized that the much-awaited reforms will come first and lopping off zeros from the rial afterwards. 

“After going through legal formalities, the new money will be introduced gradually replacing the old banknotes ”, he said, adding that the printing costs would be much cheaper than the current notes.

 

cant reform and then remove must be done same time...

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