Iranian Rial

[Freedomwish]

7 hours ago, screwball said:

Their new payment system is supposed to go live by september 2 and October is when they have to be in the basket!

!!!!

7 hours ago, screwball said:

Theynhave passed law removing four zeros, wanting usd parity but if you remove fours zeros off the rate you get around $2 plus! Just a matter of days and weeks now!

!!!!

7 hours ago, screwball said:

Hey if we have to go to kish I will meet you in dubai before we fly in! Safety in numbers but let's hope for a dubai cash in!

Screwball, don't be screwing around with our emotions on this!!  Are you serious?!!  Has that law been passed, really?!!  

Could you please provide any links, site sources, anything at all for further research and confirmation, PLEEEEEEEEEAAASE??!! 

I'm just getting back from vacation, and would definitely like to go back to a PERMANENT VACATION!! 

Edited August 10, 2016 by Freedomwish
Too excited

[screwball]

3 hours ago, Freedomwish said:

!!!!

!!!!

Screwball, don't be screwing around with our emotions on this!!  Are you serious?!!  Has that law been passed, really?!!  

Could you please provide any links, site sources, anything at all for further research and confirmation, PLEEEEEEEEEAAASE??!! 

I'm just getting back from vacation, and would definitely like to go back to a PERMANENT VACATION!! 

Yes they did pass, I think in my previous posts I posted a stack of articles with links...I am serious it's just a matter of time

[screwball]

The reality is they want an alternative real time payment system other than using us clearing houses and usd....China is the answer and that goes Liv sept 2 and yuan inlcude in basket October 1st...

[screwball]

On Sunday, Central Bank Governor Mahmud Bahmani said Iran plans to slash four zeros from its national currency in “one to two years,” seeking parity with the US dollar.

[SnowGlobe7]

one to two years....so we have time 

[screwball]

Rate well can only go off articles and I did post one where they quoted slightly over 1:1.... We know iran can set what ever rate they want after all they were the ones that sharply devalued the rial from 12000 or there shouts to 24000 rials per usd. They are wanting to be number 2 with oil and gas reserves in matter of fact there gas reserves are the biggest especially in the capstan sea...they voted on removal of four zeros and articles point to a postponement two years back in 2012 which puts us there again but not

[SnowGlobe7]

5 minutes ago, screwball said:

On Sunday, Central Bank Governor Mahmud Bahmani said Iran plans to slash four zeros from its national currency in “one to two years,” seeking parity with the US dollar.

 

Do you have a link for this... I would like to read it

[screwball]

You can do a search and find all the articles you need check from posts way back when I started because I posted a stack! For me it's all about planning for the cash out..

 

[screwball]

16 minutes ago, SnowGlobe7 said:

one to two years....so we have time 

No this was back in 2012 which puts at go time! Remember sanctions have been place, mean while they have been building forex reserves, and reducing inflation to single figures! 8% last month should be 7% this month and 6% in September!

 

[screwball]

18 minutes ago, SnowGlobe7 said:

 

Do you have a link for this... I would like to read it

http://iran-times.com/bahmani-says-4-zeros-to-gobut-not-soon/

[screwball]

Or This one http://www.iranfocus.com/en/index.php?option=com_content&view=article&id=23032:iran-plans-currency-reform-seeks-dollar-parity-report-&catid=31&Itemid=125

[screwball]

http://www.khaleejtimes.com/article/20110411/ARTICLE/304119924/1036

faciltate trade? Hmm..aren't they signing massive trade deals I believe over 100 billion worth plus if you follow as closely as I have! Even recent iraq article about iran and Iraq trade!

[screwball]

http://en.karafarinbank.ir/news-details/p57542808.kb

 

this  one is funny can't have parity with three zeros, need to remove four then that makes ever rial worth over $1.50 us!

[screwball]

There is even an article with rate over $1.50 us somewhere in my archives

[screwball]

“The new rial … will be equal in value to one (US) dollar,” the state news agency quoted Bahmani as saying, adding that it would take “one to two years” to be implemented.

Bahmani did not indicate whether the authorities would try to maintain a fixed parity between the greenback and the Iranian currency following the zero reduction.

Bahmani failed to say why Iran would want the rial to have parity with a currency the Islamic Republic says is dying and is rapidly being rejected by the rest of the world. Three years ago, Ahmadi-nejad ordered all government agencies to calculate foreign exchange requirements in terms of the euro. But Ahmadi-nejad’s own budget continues to use dollar conversions and only a handful of government agencies state foreign exchange in terms of the euro.

 

....this says to me maybe pegged to euro but equal in value to 1 usd!

 

[screwball]

The new rial (...) will be equal in value to one (US) dollar," the official Irna news agency quoted Bahmani as saying late Sunday. He added the plan would take "one to two years" to be implemented.

read from pages 5-7 onwards has all the scoop!

[screwball]

Back in April, Bahmani said the shift from dropping three zeros to dropping four would give the rial parity with the US dollar. Right now, $1 equals about 10,500 rials. By shifting the decimal point four digits to the left, one dollar will cost 1.05 rials.

[screwball]

So if exchange rate is 32000 rial what would the new rate be?

[screwball]

http://taxinsights.ey.com/archive/archive-news/iran--first-offshore-bank-to-be-established-in-kish-free-zone.aspx

[pokerplayer]

1 hour ago, screwball said:

The new rial (...) will be equal in value to one (US) dollar," the official Irna news agency quoted Bahmani as saying late Sunday. He added the plan would take "one to two years" to be implemented.

read from pages 5-7 onwards has all the scoop!

 

From which post ? Not sure were I'm suppose to read ?

 

  Thxs pp

[screwball]

http://techrasa.com/2016/04/20/iran-30-ready-accept-international-payment-systems/

1 hour ago, screwball said:

The reality is they want an alternative real time payment system other than using us clearing houses and usd....China is the answer and that goes Liv sept 2 and yuan inlcude in basket October 1st...

http://taxinsights.ey.com/archive/archive-news/iran--first-offshore-bank-to-be-established-in-kish-free-zone.aspx

[screwball]

There is a recent article confirming testing of the real time payment system, with chips suppose to go live end of 2015 there is no doubt that it will go live on sept 2 according to article just in time for yuan and basket inlcusion 

[screwball]

http://www.aviso.io/china-international-payment-system/

[screwball]

http://www.straitstimes.com/business/banking/dbs-china-picked-to-test-yuan-payment-system

[screwball]

http://financialtribune.com/articles/economy-business-and-markets/13165/cips-not-helpful-iran

 

this is interesting because it says " not so attractive" so it will be attractive? In statement analysis this means the opposite! Go iran! Go chips! Go yuan!