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On 04/07/2017 at 0:58 PM, screwball said:

The Central Bank of Iran has issued a new directive in line with anti-smuggling laws, based on which individuals holding more that €10,000 would be subject to an official probe.

According to the directive announced on the official website of the bank, keeping foreign exchange up to €10,000 (or its equivalent in other currencies) faces no legal barriers.  

Retaining an amount of foreign currency higher than the set limit is allowed only if the applicant obtains one of the following documents:

* A bank's receipt or any other document indicating that the amount has been reimbursed by a bank.

* An authorized receipt from an exchange house registered in CBI's SANA system.

* A printed receipt containing the tracking code that indicates the currency was declared when entering the country.

The directive noted that if someone is in possession of a larger amount of hard currency than the set limit and does not have one of the aforementioned documents, they need to open a foreign currency account in one of the banks or sell the currency to a bank or licensed exchange within three months.

 

Reminder...from April 

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Iran-EU currency market exchange underway in euro

نشست خبری علی طیب نیا وزیر اقتصاد و دارایی
News ID: 4054188 - Wed 9 August 2017 - 12:36
TEHRAN, Aug. 09 (MNA) – Economy Minister Tayebnia said no barrier existed on conducting Iran’s banking transactions with European countries using euro.

Ali Tayebnia, Iranian Economy Minister, however noted that the country’s forex exchange in dollar was facing certain limitations mainly due to old sanctions imposed by the US. He clarified that the hurdles did not pertain to nuclear sanctions.

“Limitations in dollar-based foreign exchanges has caused difficulties for European banks who have close relation with American monetary institutions and are also eager to work with Iranian counterparts,” he continued.

Iranian economy minister went on to stress that a great portion of the country’s currency market exchanges were being made in euro.

“Following sanctions removal and implementation of the Joint Comprehensive Plan of Action (JCPOA), costs of Iran’s forex exchanges have declined substantially,” he underlined.

HA/IRN82624470

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Zarif says firm to activate economic diplomacy

August 16, 2017
 
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TEHRAN – Mohammad Javad Zarif, who has been re-nominated for the post foreign minister in President Rouhani’s new cabinet, on Wednesday expressed his determination to activate economic diplomacy in order to boost national economy.

Zarif was in parliament to throw light on the Foreign Ministry’s achievements during his first four-year term and also elaborate on his plans for a second term provided that he gets the go-ahead by the parliament.

He highlighted the need to harmonize the country’s politics and economy within the Foreign Ministry in the pursuit of national interests.

Zarif further said he supports entry into regional and global markets, noting that attracting foreign investment and tourists and transferring technology into the country will be among the top priorities of the Foreign Ministry.

In order to succeed the government needs to provide the necessary conditions for the effective presence of its economy – especially the private sector – in global value chains, deepen economic relations with neighboring countries and emerging powers, facilitate agreements with European countries to expand cooperation in big economic projects, and focus on the potentials of new markets, he explained.

Zarif, 57, has held various significant diplomatic posts since the 1990s. He was the permanent representative of Iran to the United Nations from 2002 to 2007.

He gained a B.A. in 1981 and M.A. in 1982 from San Francisco State University, both in international relations. Following this, he continued his studies at the Josef Korbel School of International Studies, University of Denver, from which he obtained a second M.A. in international relations in 1984 and a Ph.D. in international law and policy in 1988.

During his tenure as foreign minister, he led the nuclear talks with six world powers which produced the historic nuclear agreement – officially called the Joint Comprehensive Plan of Action (JCPOA) - on 14 July 2015.

Defending his performance before the parliament, Zarif said the nuclear deal was not the result of Tehran’s trust in Washington, but rather every single part of it showed Tehran’s “serious distrust” of Washington.

He also expressed gratitude to the parliament for supporting the nuclear talks and the final agreement.

The chief diplomat further praised the legislative body’s approval of a motion to counter the United States’ terrorist and adventurous acts in the region. The bill was passed in response to the recent non-nuclear sanctions that the U.S. Congress imposed against the Islamic Republic.

On Tuesday, President Rouhani went to the parliament to explain his priorities in his second term and to defend his cabinet picks.

Under Iranian law, the president have to present his full list of cabinet nominees to the parliament, which will consider their merits one by one before their appointments are made official.

“The government is resolute to bring about more structural reforms in its second four-year term,” Rouhani said in his two-hour long speech.

The Iranian president also said that his administration would seek peace in the region through cooperation in political, economic, cultural, and security areas.

MH/PA

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Looks like trade with Australia and New Zealand won't be a problem..

 

NZ has long-standing trade, economic relationship with Iran: Minister

New Zealand has a long-standing trade and economic relationship with Iran, observed Foreign Minister Gerry Brownlee.

Since the easing of United Nations sanctions in 2016, there has been increased interest in the Iranian market by New Zealand exporters, the minister said, reported scoop.co.nz.

Exports to Iran last year reached $151 million while the first export of New Zealand lamb in decades was sent to Iran in May.

Brownlee further announced that New Zealand's new ambassador to the Islamic Republic of Iran is Hamish MacMaster.

"There is real scope for further diversification of our trade relationship with Iran and New Zealand's new ambassador will play a key role in supporting this," Brownlee said.

In February, Iran signed an agreement to resume sheep and beef imports from New Zealand and discussed possible kiwifruit and shrimp exports to that country.

New Zealand Primary Industries Minister Nathan Guy and Iranian Agriculture Minister Mahmoud Hojjati were present in the signing ceremony of the agreement which provides for chilled and frozen sheep and beef exports to resume with Iran.

Hojjati touched on capacities between the two countries for cage fish farming and marketing cooperation on exports to other countries.

"The determination of the two countries to develop constructive relationships is serious and Iran is ready to cooperate with New Zealand in fields such as research, exchange of germplasm, pasture pest management and hybrid seed production," he said.

"Joint investment in cage fish farming and marketing for exports of products to other countries can be another field for cooperation between Iran and New Zealand," he added.

The two sides also signed two documents on commercial veterinary and gardening development.

The agreements were signed between Iranian Veterinary Organization and the New Zealand Ministry for Primary Industries, with Guy hailing them as "a crucial step for New Zealand meat companies as they look to re-enter the Iranian market".

Meat is New Zealand's second-largest commodity export after dairy, and was worth $5.92 billion in 2016, according to the country's media.

New Zealand kiwifruit marketer Zespri International and Iran's Ministry of Agricultural Jihad meanwhile signed a statement of intent outlining undertakings to further explore commercial opportunities in Iran, Guy said.

Iran has well-established kiwifruit orchards and supply chains and produces the fruit in New Zealand's off-season, he said.

New Zealand sent its Trade Minister Todd McClay to Tehran in December 2016 at the head of a senior-level business delegation to look into the prospects of reviving trade with the Islamic Republic after a hiatus of over a decade.

McClay said at the time that the lifting of sanctions on Iran had created new opportunities in the education, construction, food and beverage, energy, forestry, specialized manufacturing and services sectors.

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THURSDAY
August, 17 2017
 
Catriona Purfield 
Catriona Purfield 
Sunday, March 12, 2017

IMF: Early Forex Rate Unification Possible for Iran

Since the Iranian government has already done a lot of preparations to adopt a single exchange rate regime, the country is capable of making an early move in this regard
As for addressing the external threats that Iran is facing, the country will have to begin domestic reforms like reducing dependence on oil, strengthening the financial sector and expanding the role of private sector
jabal%20ameli.jpg?itok=g3GY1p79
Economist
afyanian_0.jpg?itok=GvPfq7T6
Finance Desk

The International Monetary Fund is optimistic that Iran can unify its dual foreign exchange rates in 2017-18 despite recent challenges facing the country, such as currency market volatility.

In an interview with Financial Tribune, Catriona Purfield, a senior economist at IMF, said since the Iranian government has already done a lot of preparations to adopt a single exchange rate regime, the country is capable of making an early move in this regard.

 "Half of imports has been put on the market rate and most of the goods are now at the flexible rate. Interbank FX market has been reestablished. Therefore all the elements are there, so an early move is possible," she said.  

Purfield , who led a recent Article IV mission to Iran– an annual health check on the Iranian economy as she puts it, added that in its earlier report, IMF had urged Iran to unify the exchange rates and have "a managed float" to have an early move benefit.

After completing a two-week Article IV consultation with Iran, IMF released its concluding statement on Feb. 27 in which it commended Iran for its "impressive recovery" from recession after the lifting of sanctions in 2016.    

In preparing its report, the Article IV team had policy discussions with the Central Bank of Iran, ministries and agencies, private sector, Chamber of Commerce, NGOs, entrepreneurs, Cooperatives Ministry and social organizations.

"We witnessed a fundamental difference in this year's Iran performance compared to last year ... We're seeing growth in the range of 6.5-6.6%, which is the forecast figure for this year … a huge turnaround  from last year when the economy actually contracted," Purfield said.

According to the economist, if Iran had unified its exchange rates at the time of the oil price crash, it would have had an extra tool to respond to that shock.

"IMF has been strong in its language advocating for an early move to unify the rates and doing it within a year because the dual exchange rates vary by more than 2%," Purfield said.

Asked why IMF did not advise a specific date for the unification, she noted that "we did not advise on an exact timing for unification because at the end, the government has to make sure the FX market is stable and it has good access to international reserves to prevent unexpected spikes in the exchange rate".

Article IV also had discussions with Iranian authorities to have better regulations to control the FX market to have more transparency by moving transactions to the banking sector, having real-time monitoring of foreign exchange within the market and setting up the infrastructure to monitor the market.

"They should come up with regular publication of FX reserves data and that information should be available and we had discussions to have a more transparent framework," she said.

Purfield cautioned that reforming the monetary policy framework and moving away from fixing an exchange rate were contingent upon the market exchange rate being stable and having a good monetary policy and a good grip on inflation.

Growth and Other Aspects

However impressive Iran's economic growth in 2016-17, it cannot be denied that thanks to a surge in oil exports, Iran clawed back its share from the market or as Purfield puts it as an "oil story".

"Oil data show a 52% jump in value-added to the economy  (oil exports nearly doubled this year) and that growth is not seen in the rest of the economy," she said.

"The non-oil sector has been quite weak and we have pointed that in the report and we have been more modest in the growth uptick for 2016/17 than the government."

Purfield noted that IMF is keen that there should be reforms to support growth and to be able to allow the non-oil economy to expand.

The non-oil sector only registered a 0.9% growth in the first half of 2016-17, which was attributed by IMF to difficulties in accessing finance and domestic financial sector, and structural weaknesses.  

"We have been more conservative in our medium-term forecast (4.4%) and the figure for next year's headline growth (3.3%), which will be lower or on the downtrend unless oil prices increase or there is expansion in that sector," she said.

"Otherwise, there's no way that oil can grow again by 52% and that's why we have emphasized growth in the non-oil sector."

Banking Woes

A good part of IMF advice this year focuses on the condition of Iranian banks and the serous struggles they are facing.

As the economist puts it, they urged problem solving in the banking system to safeguard the achievements of financial stability and low inflation.

"Interest rates are now in the 20% range and without inflation that implies a real rate of nearly 10% that is strangling the private sector and the recovery," she said.

Purfield recommends that now that the economy is beginning to recover and external relations are improving, it is time to address the challenges in the banking sector.

"One thing we advised is to handpick distressed banks and put them on enhanced supervisory administration–the very banks which are competing for deposits by offering you some very nice interest rate and that makes interest rates rising fast because other banks try to compete with them," she said.

"Another key advice is to conduct an Asset Quality Review: an independent auditor going into each bank and doing a forensic on each of the bank's balance sheets. So you can get an exact sense of how the problem of non-performing assets is and where the problem is coming from."

The economist stressed that that's when one can determine which of the banks can be saved and which of the banks may not be viable so they can be resolved: merged or closed.

She is also comforted by the fact that the Iranian government has begun to take some of the steps for this by implementing International Financial Reporting Standards, which is the first step for being more transparent.

The two banking laws (the Banking Reform Bill and the Central Bank Bill) will be very helpful, as they will strengthen the tools to deal with the banks and also enhance supervision over them.

The government is seeking IMF technical advice regarding these issues so they can be in line with international standards and the bills will ensure that the banking system gets back into shape again.

As for addressing the external threats that Iran is facing, the economist believes the country will have to begin domestic reforms like reducing dependence on oil, strengthening the financial sector, expanding the role of private sector and reducing the government's role in the economy.

 "Other measures include creating buffers and savings so you have something to draw from when there is a shock," she said.

Precedent shows, Purefield says, that on the whole Iran has been relatively good at taking IMF advice.

Will Iran follow embrace these recommendations too? Here's hoping.

 
Just sent to parliament so let's see what happens..

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Travelex is the world’s largest retail foreign exchange specialist. You can find us in 1,400 Bureau de Change outlets principally located in airports and tourist locations in over 100 airports, across 26 countries. Find your nearest Australia store below.

 

 

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On 13/09/2016 at 7:55 AM, blueskyline said:

This was on F*(&b*^k................What does it mean ???

unification of Exchange rate at the end of this year, 09 September 1395 the gap between the official Exchange rate and the open market and expand space international relations Bank psabrjam, provided that the conditions for the unification of Exchange rate and peace has become the foreign Exchange market.
according to the public relations the Central Bank, doctor ولیاله Saif last night in an interview special news planned primary for paid 16 trillion dollars to firms production noted and said in meetings with Minister respected industry had, was determined to expedite prosperity, 7500 manufacturing unit small and medium need with network Bank financing be. with serious banking system country it was, financing 5700 manufacturing unit carried reached and 60 trillion rial been investigated.  he added: in the four-month first year, banking network 129 trillion dollars facilities granted that compared to the same period last year, 37,8% of grew. 30% of the facility sector production and 88,1% of it to supply working capital production units is paid. also predicted to be this year facilities payment books from 417 trillion dollars 460 trillion dollars reach that the determination network Bank to supporting production units and economy is. return boom transactions housing Saif to increase 30 percent of transactions housing in Tehran of August year 94 noted and said price transactions housing 7,6 percent that growth غیرتورمی is. in this rate facilities fund پساندار housing first in the first 14 percent was to 9,5 per cent to facility normal and eight percent for tissue worn reached. head of the whole Central Bank pointed out that the three years ago interest rate Bank status نامتعادلی was added, then inflation the top 40 percent and time profit Bank 27 percent had. accordingly planning government reduce swelling focused and process lowering inflation rate in the past three years continued interest rate banking the sync with reduced inflation rate fell. head of the Council of money and credit due to freezing 45 percent of assets books accumulation problems during the past 30 years, he said the bulk facilities books to production units for supply working capital granted that short-term and facilities current is. also 15 percent of accommodations granted, to repay the demands of books and معوقات this enterprises production and the rest of the facility is new. pointing to deposit rates 15 percent in books added: rate facilities the 18 percent and now more books respected and if the other than the rate, paid, the Central Bank definitely violators deal will. Saif the determination of the Central Bank to increase the discipline of monetary noted and said in this regard, tried facilities banking system to places assigned to be that the boom, production and employment be. in addition to this is expected inflation also more from this increase not inflation and the current stability of the desired reached. control fluctuations foreign Exchange market Saif crowning government eleventh tarjeta de video restore peace to the economy as the æ said in 1391, the average rate of Exchange 2605 USD that in 1392, 3184 to USD was while since تصدیگری this state up to five months first year 95, developments rate of Exchange process natural and 3493 USD reached. so to speak other, range of Exchange rate fluctuations of 741 USD in the year 91 32 USD in the year 95 reached. he went on to confirm that certainly the end of the current plan یکسانسازی Exchange rate runs, said in order to زمینهسازی to run the plan was required gap rate among the official Exchange and free market be controlled. thus, the gap rate of Exchange gradually 112,6 percent in the year 91 14 percent at the end of August this year fell. condition for the implementation of this project, open and deepen relations Bank international and facilitate it was with برجام, space good created to network communications Bank our international broader be. total this achievements, requirements for the same building Exchange rates provided and peace to market turbulent Exchange دروان Elementary تصدیگری government eleventh returned. head of the Council of money and credit followed status rating of books, said: one of the actions Central Bank of last year set at least the necessary information to adjust the financial statements banks to strength and balance between resources expenditures Bank with full transparency and proportional to the standards day, detectable is. already a plan is review which guarantee fund deposits as trustee is rating of books, price insurance less of banks that the lowest risk are getting will books to improve the situation your credit more encourage. in this field, Saif again warned people should not be fascinated rates profit more than Act Council of money and credit be. he, interest rate high-, represents the status inappropriate and imbalance institutions is not allowed and be sure fellow Dear to inform the رسانیهایی in relation to this thread is considering only institutions under the Central Bank are trust. the use of experiences in transparency international financial رئیسکل the Central Bank in response to the question whether join Iran group special financial action for country risk security in there? said the Supreme Council of anti-money laundering that consists of ministers economic and assets, information, Justice, state, the country and رئیسکل Central Bank as well as the Supreme Council of the National security issue organization بینالدولی gafi examined and absolutely instead of any concerns there. in the organization mentioned over 190 countries for voluntary member and none of the countries of the points certain not enjoy and other information countries do not have access and even join in gafi requires cooperation and disclosure of financial information between the two countries not. as a result not only comments that in relation to gafi done with the fact compliance not but through it, regulatory bodies our experiences other countries to deal with abuses financial have are. he added: in the field of financial information (uif) in the Ministry of economy-based and active been monitor the implementation of criteria specified within the issues such as use the internal, anti-money laundering, anti-terror financing or anti-trafficking the product and drugs are. head of the Council of money and credit process extradition money blocked Iran abroad positive, he said collaboration continuous institutions responsible, Fortunately, much of the property blocked country accounts the Central Bank deposit and it is hoped with continuing گشایشهای resulting in space پسابرجام, the process continues have. payment 150 loan marriage in thousand çé months went on, Saif the facility marriage noted and added: Fortunately, despite the lack of sufficient resources Bank to increase the roof loan marriage Act parliament since communicated executive was. at the beginning of the year 1395, 450 thousand people in the queue expect to get this facilities were the collaboration with banking system of 243 thousand counts of loan marriage pay 350 thousand people to get this facility introduced have been.. in addition to accelerate the process of payments, the Central Bank during communicated بخشنامهای, network Bank required to pay 150 thousand loan marriage çé month has integrity bills dual reform Bank head of the whole Central Bank of the bills dual reform Bank said given that is the laws of the Central Bank and all activities banking country ruling is not in the editor bills it, compatibility and accuracy victim speed and effort was prepared bills the away شتابزدگی and with the use of experiences banking international be done. track plan reform Bank before servant in the Central Bank started and cooperation with the Ministry of economy and the formation of meetings compressed in this especially, our efforts on this is over the coming months plan reform Bank Cabinet provided to pass, as bill dedicated parliament to be. he also on the payment compensation astronomical in books, said: the Central Bank should not be in the payment حقوقها intervene for payments for rights leaders in the Assembly books is determined, علیایحال the Central Bank considerations also in the field of balance of payments has including in February last year instructions disclosure of information to books communicated be which have the highest rights paid financial report books, insert. determine the task accounts نامشخصرئیس total Central Bank at the end of the situation accounts uncertain pointed out æ said following measures the Central Bank of thought and fast track is, 27 million Bank account individuals without number National were identified and blocked and only the number of 8700 account no information number National active remained until the end of September determine the task will be. he added: also 358 thousand account legal entities no ID National and 447 thousand account belongs to foreign persons without number inclusive that the Central Bank are follow-up to determine the task and corrected. so only less than a million of the total number of Bank accounts status unknown are.

 
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On 18/09/2016 at 7:49 PM, screwball said:
News ID:156416
Publish Date: Sun, 07 Aug 2016 18:44:37 GMT
Service: Iran
 

Unification of forex rates vital

Unification of forex rates vital

The Central Bank of Iran (CBI) is intensifying efforts to unify the two-tier foreign exchange rate as part of its market reform policy to streamline the economy.

Currently, the official rate is about 31,000 rials per US dollar against over 35,000 rials on the open market.

The imposition of US-led sanctions during the second term of the previous administration (2009-2013) had thrown the foreign exchange market into disarray. The former government had to introduce a three-tier system to cushion the blow from the crisis. The gap between the first and the third rates climbed to over 300 percent in the dying months of the former government's tenure. This was because the rial had depreciated by 400 percent against hard currencies. Each US dollar was traded up to 40,000 rials during the peak of the forex crisis.

As soon as President Hassan Rouhani assumed office in August 2013, it formulated plans to rebuild the economy through reforms. Since then the CBI, in cooperation with other responsible bodies, has been pursuing plans to unify foreign exchange rates.

Sanctions posed a major obstacle to achieving this goal. However, grounds were prepared for overcoming the hurdles following the implementation in January of the nuclear deal signed in July last year between Iran and the P5+1 — the US, Britain, Russia, China, France and Germany.

Three days ago, the CBI stressed that the unification of forex rates will be vigorously pursued.

Last week, CBI Governor Valiollah Seif also authorized banks to trade in foreign currencies on the basis of open market rates. He said the order is an important step to replace the current two-tier foreign exchange system with a single one.

Seif also vowed that the unification plan will be implemented by the end of the current Iranian year in March 2017.

Officials say economic stability and calm in the market are essential to establish a single forex rate. Hence, they want to accurately assess likely consequences of the move.

Pros and cons of unified forex system

On the one hand, some experts have voiced concern that the system will be counterproductive. They say the unification of foreign exchange rates will remain elusive and only fuel anxiety in the market.

Such concerns are based on notions that economic and political developments have played a major role in triggering crisis in the forex market.

On the other hand, other economic pundits believe the unification of foreign exchange rates will mitigate the impacts of rent-seeking and will help drive forex dealers out of the market. Such pundits stress that economic transparency is the direct outcome of a unified forex system.

Amid such ideas, the market will determine whether such a system will be productive or counterproductive.

The government has not decided to unify forex rates overnight. It has devised plans for the last three years and weighed the pros and cons of the issue.

The CBI has stressed that the single rate system will be set based on market realities.

It means that the unified forex rate will be subject to fluctuations as in other countries. However, the CBI should monitor the market and adopt comprehensive approaches to forestall any economic upheavals which may plunge the forex market into turmoil.

Investment, forex market

In the wake of the nuclear agreement with major world powers, many foreign companies have rushed to the Iranian market to either resume or begin trade ties with the Islamic Republic.

Scores of agreements between Iranian companies and their foreign counterparts have so far been signed. Nonetheless, lack of economic transparency is still a major obstacle to boosting trade ties with other countries.

Undoubtedly, foreign investment is essential in helping states boost their economies. Foreign investors regard economic transparency as a prelude to concluding trade deals.

The unification of forex rates plays a crucial role in promoting   economic transparency since this will help investors draw up long-term plans for cooperation with their partners.

Meanwhile, the government should learn from the experiences of other countries which have succeeded in developing their economies. However, a successful economic model may not be useful in other countries.

The administrations can achieve its economic targets by combating economic corruption, preventing rent-seeking, and money-laundering. Apart from economic transparency, effective cooperation of the private sector, economic experts as well as the pursuit of clear and coherent economic policies are also crucial.

         
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On 12/10/2016 at 1:34 PM, screwball said:
by KM Dadkhah - ‎2001 - ‎Cited by 3 - ‎Related articles

foreign exchange control and set the official rate of exchange for the pound and dollar. There were an ... law regulating the Iranian currency defines one rial to be equal to 4.14 gram of silver. Therefore, the price of ...

 

like me to know what the rest of this? Remember my previous post from the former president saying it should as per law? Unfortunately this book costs $45.00 maybe I will keep searching!

 

Fyi puts at $2 plus 

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Tayebnia said. “In the course of the next two months, the share of the official exchange rate [in trading goods] will be zero. We are very smoothly and gradually doing that reunification without having lots of rhetoric and propaganda about it.

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Asked why IMF did not advise a specific date for the unification, she noted that "we did not advise on an exact timing for unification because at the end, the government has to make sure the FX market is stable and it has good access to international reserves to prevent unexpected spikes in the exchange rate".

 

Thanks SB!

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1 minute ago, gregp said:

Asked why IMF did not advise a specific date for the unification, she noted that "we did not advise on an exact timing for unification because at the end, the government has to make sure the FX market is stable and it has good access to international reserves to prevent unexpected spikes in the exchange rate".

 

Thanks SB!

They have over 150 billion in forex reserves so this will not be an issue, the fact that these laws are back in parliament is a good thing, it's a waiting game..soon! Lol

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Awesome!

 

Did I read this correctly? Did one of the articles read they were currently trading on travelex?

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People
Thursday, August 17, 2017

Housing for Low-Income Groups

 

Some 4,000 families under the umbrella of the Imam Khomeini Relief Foundation will be given homes, according to the head of the foundation’s Housing and Construction Office. “The housing units are nearing completion and should be ready by October,” Ebrahim Bazian was quoted by news website Saat24.com as saying. The official said the houses are located in “some of the most impoverished regions in seven provinces,” but did not name the provinces.

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18 minutes ago, gregp said:

Awesome!

 

Did I read this correctly? Did one of the articles read they were currently trading on travelex?

 

They have issued permits to a few  within Iran to trade in foreign currency but what we are waiting on is coming is the interbank forex market with no limitations when they unify rates and move to a managed float with currency board. It's coming bills are before parliament now.

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49 minutes ago, screwball said:

They are already accepting euro trade with select countries...

 

Thanks, SB. 

 

I've always felt Iran would be the Trojan horse that would sneak up on the Forex market and catch people by surprise

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7 hours ago, gregp said:

 

Thanks, SB. 

 

I've always felt Iran would be the Trojan horse that would sneak up on the Forex market and catch people by surprise

 

Buddy, WE ALL WOULD LOVE TO BE CAUGHT BY SURPRISE WHEN THIS THING HITS!! :twothumbs::praying:

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