Iranian Rial

[WheresmyRV?]

Thanks for sharing PP

I'll gladly take 30-30 cents for this!

[blueskyline]

https://www.zawya.com/mena/en/story/Iran_posts_trade_surplus_for_second_time_in_37_years__IRNA-TR20170329nL5N1H66ANX2/......IRAN

Iran posts trade surplus for second time in 37 years - IRNA

BEIRUT, March 29 (Reuters) - Iran posted its second trade surplus in 37 years for the past Iranian calendar year, which began in March 2016 and ended last week, according to customs data cited in a report by the Islamic Republic News Agency (IRNA). 

Non-oil exports exceeded imports by $246 million, the report said withut giving any reasons for the trade surplus. But the lifting of sanctions last year helped Iran move toward re-establishing old business ties and taking preliminary steps towards building new ones. 

Imports have also been curbed by the weak rial compared to the period before sanctions and because Iran was forced to produce many things itself during the years of sanctions. 
 

 

The lifting of sanctions was part of a landmark deal struck between the Islamic Republic and western countries in 2015 which forced Iran to restrict its nuclear program. 

The positive trade numbers could provide a boost for moderate president Hassan Rouhani, who has pointed to the agreement as his administration's signature achievement, during presidential elections in May. 
 

 

Non-oil exports during the past Iranian calendar year reached $43.9 billion, a 3.5 percent increase over the same period during the previous year, the IRNA report said. 

Imports for the past Iranian calendar year hit $43.6 billion, a 5.2 percent increase over the same period during the previous year. 

China was Iran's top trading partner for both imports and exports in the past Iranian calendar year, figures cited in the IRNA report showed. 

(Reporting by Babak Dehghanpisheh, editing by Ed Osmond) ((babak.dehghanpisheh@thomsonreuters.com;)) 




 

[Freedomwish]

On 3/30/2017 at 6:08 AM, pokerplayer said:

His Family sees a portability of ,33- .39 this at a streach

pp

Shooooo, I'm good with it!!  I'll take it!!  Thanks PP!!! 

Edited March 31, 2017 by Freedomwish

[markb57]

On 3/30/2017 at 6:05 AM, sandfly said:

Pp I'm looking at .28, so what did he think it will be 

Sandfly, how did you come up with .28?

[climber7]

Okay

just chalk my following comments up to having a really bad day and being in a pissy mood...but what the FRICK happened to our rial adjusting on March 21st like they've been saying in articles for years/months?!

friggin currency investments suck 

[sandfly]

I believe it will come out less then that, maybe.10 , they won't come out higher, because people out of Iran that has it. Come out low then let it go up from there 

[blueskyline]

Iran’s third Airbus delivery postponed.........Enemies resorting to economic pressure to achieve goals: Leader.the enemies seek to undermine the trust of the Iranian nation in the Islamic establishment through mounting economic pressure

......BoE reluctant to help facilitate Iran-UK trade.......TEHRAN (Tasnim) – India is exploring setting up a new payments mechanism for trade with Iran, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.... Bank of England reluctant to help facilitate Iran-UK trade...New Zealand delays plan to export lambs to Iran.. The West is managing to hold Iran back since Tuesday .........they are finding ways around this though

[Freedomwish]

18 hours ago, climber7 said:

Okay

just chalk my following comments up to having a really bad day and being in a pissy mood...but what the FRICK happened to our rial adjusting on March 21st like they've been saying in articles for years/months?!

friggin currency investments suck 

Pfffft!! Let me know what you're drinking tonight, I'll double it with ya' buddy 

15 hours ago, sandfly said:

I believe it will come out less then that, maybe.10 , they won't come out higher, because people out of Iran that has it. Come out low then let it go up from there 

Here's to hoping Sandfly, here's to hoping for anything..

15 hours ago, blueskyline said:

Iran’s third Airbus delivery postponed.........Enemies resorting to economic pressure to achieve goals: Leader.the enemies seek to undermine the trust of the Iranian nation in the Islamic establishment through mounting economic pressure

......BoE reluctant to help facilitate Iran-UK trade.......TEHRAN (Tasnim) – India is exploring setting up a new payments mechanism for trade with Iran, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.... Bank of England reluctant to help facilitate Iran-UK trade...New Zealand delays plan to export lambs to Iran.. The West is managing to hold Iran back since Tuesday .........they are finding ways around this though

Thanks goodness I'm good friends with the bartender at my local happy hour spot.......more whiskey tonight it is, patiently we continue to wait. 

[markb57]

Here's the thing and I would only hope that someone from Iran would read this. Iran, you have always been known as a terrorist sponsoring nation. Now if you want to act like adults and have a successful prosperous country for your people, you have got to stop acting like you're all badass and start telling the world you want to be at peace with everyone. Dear Iran. NO ONE TRUSTS YOU! Convince the world you can be at peace and be trusted and the sky's the limit.

 

I know. Longshot right......

[screwball]

 

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Majlis speaker: Iran will respond to US breach of its obligations

Karaj, Alborz prov, April 1, IRNA – Iran has considered required measures to face all types of US breach of its commitments and if they continue this approach, we will make trouble for them, Majlis (Parliment) Speaker Ali Larijani said on Saturday.

 

Speaking about the US excessive demands, he said that Islamic Republic follows a transparent nuclear policy and has an obvious logic in this regard.

Insidious moves will harm those who violate their obligations, the official said, referring to the US new anti-Iran efforts. 

“If the Americans show an abnormal behavior, as expected, we will make trouble for them,” Larijani noted.

He said, “If Americans do not comply with the IAEA conditions, we are also ready to give them an appropriate response.”

“We have been bound to our obligations and we will adopt and execute required measures against their conspiracies,” the speaker added.

He said, “We are not concerned about the US and this country’s new government threats.” 

The world has recognized the current condition of the nuclear agreement and the US breach of its obligations is not something new, Larijani added.

He called the US behavior with regional countries audacious and noted that both Pentagon and CIA are supporting terrorists in the region.

In general, they are sabotaging peace in the Middle East and have relations with all terrorist groups in the region, Larijani noted.

He said that Iranin parliament will continue discussions on adopting reciprocal measures vis-a-vis the US.

9191**1771

 

still waiting on the switch!

 

[screwball]

04/01/17

Total developing own Iran banking channels

Source: Press TV

French energy giant Total says it is trying to develop its own mechanism to carry out Iran-related banking transactions without falling afoul of US primary sanctions that still restrict doing financial activities with the Islamic Republic.

Total CEO Patrick Pouyanne
 

Total CEO Patrick Pouyanne told the New York Times that his company was trying to find European lenders willing to be a day-to-day banker in Iran - in a sign that shows the company's determination to press ahead with its investment plans in Iran.

Pouyanne added that his company had been sending small amounts of euros from banks in Europe to Tehran to learn how difficult it was to make transactions in Iran.

Wary of running into trouble with the American authorities, larger banks are for now staying away, wrote the New York Times.

"We have identified some, I would say, medium-sized banks who are ready to work with Iran," Pouyanne said.

He added that Total had put several token transactions through the banking system as test, hoping to identify difficulties in getting money into and out of Iran.

"There are some constraints, but we can do it," he told the New York Times in an interview.

Total signed a preliminary agreement with Iran last year to develop Phase 11 of the country's giant South Pars gas field. The French major would lead a consortium that comprises China's CNPC and Iran's Petropars over the project. Nevertheless, it would still need Washington's green-light before sealing a final deal with Tehran over the project.

Total signed a preliminary agreement with Iran in November 2016
to develop Phase 11 of the country's giant South Pars gas field.
(file photo by Islamic Republic News Agency)

Pouyanne told reporters in February that his company's final investment decision on Phase 11 would depend on whether US President Donald Trump waives executive orders against investments in the Iranian energy sector.

Nonetheless, Total chief indicated in his interview with the New York Times that his company was eager to venture into the Iranian market even though other global energy giants had hung back over fears of punitive measures by the US. 

"We are a little bolder than others," Pouyanne said. "It is part of our strength."

... Payvand News - 04/01/17 ... --

[screwball]

 

Mercantile exchange picks up 73% in a year

1. Economy

April 1, 2017

 

TEHRAN- More than 33 million tons of commodities, at the value of 817 trillion rials (about $21.8 billion) were traded on the physical market at Iran Mercantile Exchange (IME) during the past Iranian calendar year 1395 (ended on March 20, 2017), showing 73 percent increase compared to its preceding year, IRNA reported on Saturday.

The announced figure shows a 26-percent annual growth in terms of volume.

As previously reported, IME plans to go beyond the Iranian market by expanding its international collaboration with the suppliers, traders and other mercantile exchanges across the globe.

The Iranian body wants to boost its cooperation with the other exchanges and absorb the suppliers to exclude intermediaries because of years of isolation from the world trading system under the international financial embargo.

[screwball]

S.Korea’s import of Iranian non-oil goods skyrocketed

1. Economy

April 1, 2017

 

TEHRAN – South Korea’s import of non-oil goods from Iran rose by 230 percent in the previous Iranian calendar year which ended on March 20, according to the Iran Customs Administration.

Iran exported $2.87 billion of non-oil goods to South Korea during the past year, compared with $870 million in its preceding year, Tasnim news agency reported on Saturday.

Next to China, the United Arab Emirates, Iraq, and Turkey, South Korea was the fifth largest importer of Iranian goods, the report added.

Iran exported $43.93 billion of non-oil goods in the past calendar year, while imports of non-oil goods stood at $43.68 billion.

[screwball]

Iran ratifies attraction of over $12b of foreign investments in post-sanction era

1. Economy

April 1, 2017

 

TEHRAN- According to the latest report of Iranian Finance Ministry, the country approved attraction of $12.48 billion of foreign investments as of the implementation of its nuclear deal with the world powers in January 2016, Mehr news agency reported on Saturday. 

According to the report, with $3.96 billion of investments, Germany ranks first among the foreign investors.

The value of attracted foreign investment in Iran stood at $3.1 billion in 2013, $2.1 billion in 2014, and $2.05 billion in 2015, the report added.

[screwball]

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Japan activates Investment Agreement with Iran

News ID: 3941525 - Thu 30 March 2017 - 16:18

Economy

TEHRAN, Mar. 30 (MNA) – Japan’s embassy to Tehran issued a communique announcing the activation of the Tehran-Tokyo agreement of reciprocal support of investment in Iran and Japan.

“Japan received a notice from Iran on March 27 that the official ceremonies of the Islamic Republic of Iran, to put into practice the Iran-Japan agreement to reciprocally encourage and support investment in Iran and Japan, was finalized,” reads the communique released by Japan’s embassy to Tehran on Wednesday.    

“The agreement covers a host of full and comprehensive issues in terms of encouraging and supporting investment in Iran and Japan and with its implementation, it is expected that there would be more investment in these two countries and the economic relations between these two countries will be enhanced,” reads another part of the communique.

The agreement resulting in the Act to support Iran-Japan investment was passed by Iran’s parliament in late November 2016 and finally approved and put into law by the Guardian Council late in December 2016.

[screwball]

anking system ‘falling short of meeting economic requirements’

News ID: 3941816 - Fri 31 March 2017 - 12:25

Politics

TEHRAN, Mar. 31 (MNA) – President’s Chief of Staff has said JCPOA contributed to banking system; however, non-nuclear barriers have still made it lethargic and inefficient.

Mr. Mohammad Nahavandian told reporters Thursday that with all restrictions, Iran had succeeded in making its steel exported to the EU; “only part of the economic problems has roots in nuclear sanctions, which mainly hits domestic production; all boons of JCPOA contributed to betterment of the already crippled economy, but the situation is far from satisfactory and our banking system still falls short of meeting demands this economy requires,” he emphasized.

Nahavandian reiterated government’s much-vaunted achievement of making economic growth positive for the first time in past three decades; “positive growth is nourished by lifting of barriers on exports; however, in financial sector, banks still face restrictions and they should work in great care with foreign banks to do a simple transfer operation; this is not in par with the caliber of Iran’s economy and should be improved.

An inefficient banking system will definitely remain behind in terms of providing services to this economy when their perennial issues have piled up unsolved during decades,” he lamented.

[screwball]

Tehran, Moscow issue joint statement

News ID: 3940618 - Tue 28 March 2017 - 23:07

Politics

TEHRAN, Mar. 28 (MNA) – Following a meeting in Moscow, Iranian and Russian presidents issued a joint statement aimed at boosting relations in various fields.

The 16-page statement was published on Tuesday following a joint meeting between Iran’s Hassan Rouhani and Russia’s Vladimir Putin in Grand Kremlin Palace.

Entitled ‘en route to comprehensive strategic cooperation’, the statement was issued following the signing ceremony for 14 Memoranda of Understanding (MoUs) at presence of Iranian and Russian presidents.

Iran-Russia Joint Statement entails horizons and planned strategies projected to increase cooperation between the two countries in various fields including bilateral and regional arenas.

Hassan Rouhani, who arrived in Moscow on Monday for a two-day visit, has met with Russian Russian PM Medvedev, received an honorary doctorate from Moscow State University and delivered a speech on regional and international issues.

The Iranian President also paid tribute to victims of the Second World War in the Tomb of the Unknown Soldier memorial in Moscow on Tuesday morning.

[screwball]

ICCIMA head:

Russian attractive market for Iranian merchants

News ID: 3940997 - Wed 29 March 2017 - 20:33

Economy

TEHRAN, Mar. 29 (MNA) – ICCIMA Head Shafei, while describing Russia as an attractive market for Iranian businessmen, said Iran was pursuing free trade with five Eurasian countries.

Following a visit to Moscow, Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholamhossein Shafei said private sector played a major role in realizing the Leader’s motto of ‘Economy of Resistance: Employment, Production’ adding “one main principle of Resistance Economy, as emphasized by the Leader of Islamic Republic, is to publicize the economy since success is achieved whenever the people are entrusted.”

He defined Resistance Economy as resilience against economic shocks which can be attained once existing economic challenges are identified.

“Perhaps the biggest challenge in the face of economic shocks is mono-product economy and heavy dependence on oil as any fluctuation on crude prices can affect the whole economy.”

Head of ICCIMA went on to touch upon major ways of realizing Resistance Economy as regards the private sector saying “raising the share of private sector the country’s economy, reducing reliance on oil revenues, creation of sufficient gravity for more productivity and higher levels of risk-taking remain as important priorities that need due consideration.”

On outcomes of the visit of high-ranking delegation of the Islamic Republic of Iran to Russia and the share of private sector in the two countries' strategic partnership, Shafei said “Russia offers extraordinary capacities to Iran’s private sector from a wide range of dimensions.”

“Russia is a neighbor of Iran and the two sides hold good conditions in water, air and rail ways,” said the official adding “in view of their geographical location, Tehran and Moscow could pursue economic development through trilateral and multilateral cooperation.”

He said the issue had a significant impact on development of Iran's exports and, in addition, the two parties enjoyed top positions in regional transit which offers a good opportunity for the Iranian private sector.

“In previous negotiations and the current visit, we followed up the issue of conducting preferential tariff with Eurasian states,” underscored the official noting that Iran was pursuing the issue of free trade with Eurasia.

Iran entering free trade with five Eurasian countries will marks a leap in development of our economic relations with countries in the region,” ICCIMA head concluded.

[screwball]

Tehran, Moscow sign MoU to build railcars

News ID: 3940150 - Tue 28 March 2017 - 09:46

Economy

TEHRAN, Mar. 28 (MNA) – A Memorandum of Understanding was inked Monday between the Industrial Development & Renovation Organization of Iran (IDRO) and Transmashholding, Russia’s largest company on the railway machine-building market.

In the course of bilateral talks between the Iranian delegation in Moscow and top directors of Transmashholding, a cooperation agreement was reached between IDRO and CJSC Transmashholding as the largest manufacturer of locomotives and rail equipment in Russia.

Under the terms of the agreement, the two sides will join hands in production of rail wagons in Iran through Russian financing.

As a result of negotiations, Tehran and Moscow will cooperate in various sectors of producing cargo and passenger railway carriages.

It had been previously announced that Iran and Russia were planning to launch collaborations in the area manufacturing train wagons.

Russia possesses one of the world's most extensive rail networks as well as the largest industry for manufacturing of rail cars and locomotives. Majority of cargo and passenger displacements are conducted through railroad in Russia which is the world’s largest country with an area of over 17 million square kilometers.

The Eurasian country also enjoys the advantage of holding links with former Soviet republics.

[Freedomwish]

8 hours ago, markb57 said:

I know. Longshot right......

Hey, definitely was worth a shot - bottoms up my friend and hoping the end of this wild ride is near 

[screwball]

are we there yet...

Edited April 2, 2017 by screwball

[screwball]

Parliamentary Economic Commission confirmed on Saturday that the visit of the public right of the United Nations for Iraq was only to discuss the reconstruction of areas affected by the post-Daesh ad hoc. The committee member said Najib Najib in a press statement "that" the visit of the Secretary General of the United Nations Antonio Guterres to Baghdad and then came to Arbil to unify efforts in Iraq for ages after the liberation of Mosul. " Najib added that "the visit was dedicated only to discuss the reconstruction file and be supported by the United Nations," noting that "Guterres said the Iraqi parties to the insistence of the United Nations, on the completion of reconstruction and direct after turning the page Daesh."

[screwball]

 gov.:

Rial redenomination possible only after 2019

News ID: 3942642 - Sun 2 April 2017 - 12:15

Economy

TEHRAN, Apr. 02 (MNA) – Central Bank Governor Valiollah Seif has said dropping few zeros from banknotes will be possible only after 2 years.

Mr. Seif said the current budget had not allocated any sum for zero-dropping scheme which had haunted many in the community of economic analysts as the panacea for economic woes and depreciation; “Central Bank has sent a proposal to the government where the Bank designated the future currency as Toman; Parliament should receive the bill and debate it; there is no near horizon for dropping zeros from our banknotes,” he told Mehr News on Sunday. 

“Sanctions, recession, and other myriad of factors severely brought about the depreciation of Rial, thus adding zeros to banknotes; stability and a single-digit inflation rate will set in motion the process of redenomination, also better known as ‘zero-dropping’ from banknotes,” said the governor. 

Seif however did not provide clear information as to what other foreign currency would replace US dollar in Iran’s trade with the world; “we should examine dominant currencies with strength in global markets and a central role in Iran’s trade other than dollar,” he added, leaving open the question whether Euro or British Sterling would replace dollar. 

Chinese Yuan Renminbi and Russian Ruble had been currencies Iranian officials designated as replacement for US dollar; but these have all been short-term and for trade with only those two countries to counterbalance the adverse effects of sanctions which deprived the country’s financial system from rights to trade in dollars. Neither currencies have ever lived to the status the officials had orchestrated for them. 

Central Bank governor lamented what had been the major trouble for country’s banking system, the lack of transparency and opaque environment which masked corruption and money-laundering, inter alia other illicit activities; “banks fail to provide the Central Bank a robust and healthy financial expression; the standards of financial operations fall short of global threshold of good conduct; this is a major barrier our banks have no effective means to fight along with possible abuses which would re-channel resources to terrorist activities overseas,” he objected. 

[screwball]

Bs....total bs....so many things wrong with this article..

[screwball]

Major announcement like this carried on 1 news site and not even mainstream media....