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2 hours ago, Floridian said:

 

WOW!  You're right, Imb4321.

I couldn't believe it!

Now, I wonder if it is no longer illegal to own it?

Also, it doesn't look like they are going to be worth anything if everyone can buy as much as they want.

 

https://www.amazon.com/s?k=iranian+rial+100000&crid=1M0TSKG28M9X4&sprefix=Iranian+Rial%2Caps%2C155&ref=nb_sb_ss_i_4_12

 

https://www.amazon.com/s?k=iranian+rial+currency&crid=2M4T5G4IYT83G&sprefix=iranian+rial+%2Caps%2C336&ref=nb_sb_ss_i_1_13

Much like the dinar right?LOL

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TCCIM Examines Wisdom of Currency Redenomination

 
TCCIM Examines Wisdom of Currency Redenomination
TCCIM Examines Wisdom of Currency Redenomination

In a comparative study the Economic Research Department of Tehran Chamber of Commerce, Industries, Mines and Agriculture has probed the experience of currency redenomination in other countries and the context within which the policies were implemented. 

Referring to the rial revaluation plan on the government agenda, the study points to similar decisions by other countries and says “the policy does not necessarily produce the desired results. Its success or failure is contingent upon the groundwork (before and after) for enforcing the plan”. 

It said such plans have been successful in countries where governments have implemented comprehensive policies to overhaul the economy prior to embracing the redenomination strategy.  

Moreover, in these countries corrective policies have been maintained by implementing a “stabilization program” years after enforcement of the redenomination plan.  

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7 hours ago, Floridian said:

 

WOW!  You're right, Imb4321.

I couldn't believe it!

Now, I wonder if it is no longer illegal to own it?

Also, it doesn't look like they are going to be worth anything if everyone can buy as much as they want.

 

https://www.amazon.com/s?k=iranian+rial+100000&crid=1M0TSKG28M9X4&sprefix=Iranian+Rial%2Caps%2C155&ref=nb_sb_ss_i_4_12

 

https://www.amazon.com/s?k=iranian+rial+currency&crid=2M4T5G4IYT83G&sprefix=iranian+rial+%2Caps%2C336&ref=nb_sb_ss_i_1_13

 

Floridian,...... If it was illegal to own them, then why would Amazon sell them?.....

But if it revalues...might have to cashout in Canada or the Middle east....

Jmho......navira will have a better read on this...

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10 hours ago, lmb4321 said:

 

Floridian,...... If it was illegal to own them, then why would Amazon sell them?.....

But if it revalues...might have to cashout in Canada or the Middle east....

Jmho......navira will have a better read on this...

 

Guess you didn't see my post above where Obama made it illegal, by Executive Order in 2013, to own Rial.  

 I'd like to find some written information that makes it legal again, as I'm sure it is now, since Amazon is selling it.

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 Ira

SAINT-JEAN-DE-LUZ, France — The White House was blindsided by the arrival of Iranian Foreign Minister Mohammad Javad Zarif on Sunday in the coastal French town where President Donald Trump and other world leaders are meeting this weekend, according to three U.S. officials.

It’s unclear how much notice Trump had of Zarif’s arrival in Biarritz, France, the site of this year’s Group of Seven summit. When asked about it, the president told reporters he had no comment.

 

Zarif's G-7 appearance

U.S. officials said the administration was furious at the French government's decision to invite Zarif with little advance notice.
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21 minutes ago, navira said:

 Ira

SAINT-JEAN-DE-LUZ, France — The White House was blindsided by the arrival of Iranian Foreign Minister Mohammad Javad Zarif on Sunday in the coastal French town where President Donald Trump and other world leaders are meeting this weekend, according to three U.S. officials.

It’s unclear how much notice Trump had of Zarif’s arrival in Biarritz, France, the site of this year’s Group of Seven summit. When asked about it, the president told reporters he had no comment.

 

Zarif's G-7 appearance

U.S. officials said the administration was furious at the French government's decision to invite Zarif with little advance notice.

This is good news....hope trump gets Iran off of sanctions.....here we go rial holders..

Cheers

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Iraq to deposit billions in TBI to pay for Iran’s energy import: Source

Sun Aug 25, 2019 04:07PM [Updated: Sun Aug 25, 2019 04:34PM ]
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A handout picture provided by the Iranian presidency on July 22, 2019 shows Iranian President Hassan Rouhani (R) posing for a picture with Iraqi Prime Minister Adel Abdel Mahdi at Sa’ad Abad Palace Complex, the presidential residence, in the capital Tehran. (AFP photo) A handout picture provided by the Iranian presidency on July 22, 2019 shows Iranian President Hassan Rouhani (R) posing for a picture with Iraqi Prime Minister Adel Abdel Mahdi at Sa’ad Abad Palace Complex, the presidential residence, in the capital Tehran. (AFP photo)

A senior source active in Iran’s trade with Iraq says the Arab country is to deposit several billions of US dollars in an account in an Iraqi bank to pay for imports of energy from Tehran as well as for other debts.

Seyyed Hamid Hosseini said on Sunday that $4-5 billion will be deposited to the special account in the Trade Bank of Iraq (TBI) to settle Iraq’s debts to Iran, including those related to the imports of electricity and gas over the past years, based on a recent agreement between governments of the two neighboring countries.

Hosseini, who serves as the secretary of Iran-Iraq Joint Chamber of Commerce, told the Tasnim news agency that authorities from the two countries had agreed to use the account as an special financial instrument to evade US sanctions on Iran and allow Tehran to pay for imports of non-sanction goods through the account.

“Unfortunately, in practice ... this mechanism hit a snag and became entangled in administrative bureaucracy,” he said, adding that American bank JPMorgan Chase, which controls shares in the TBI, has been stonewalling Iran’s access to the account.

Hosseini said businessmen and private sector activists had currently no major problems doing trade between Iran and Iraq, adding that the TBI mechanism had been expected to accommodate government-to-government transactions between the two countries.  

Iran is still the number one supplier of natural gas and electricity to Iraq despite growing pressure from the United States which seeks to cut the exports to zero.

Baghdad has secured rounds of waivers from US sanctions, insisting that it has no alternative to replace energy imports from Iran.

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11 hours ago, navira said:

This is good news....hope trump gets Iran off of sanctions.....here we go rial holders..

Cheers

 

hey navira....to the point bro....is it still illegal to own Rial?...

Then why would Amazon be selling it?....Maybe the tide is turning in

the right direction?....

would be interested in your thoughts bro...

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17 minutes ago, lmb4321 said:

 

hey navira....to the point bro....is it still illegal to own Rial?...

Then why would Amazon be selling it?....Maybe the tide is turning in

the right direction?....

would be interested in your thoughts bro...

Hey bro, owning rial is not part of sanctions put forth by the US...these sanctions go back to years n years ago (when Reagan was the president)...such sanctions were lifted or waived by the JCPOA....and were only placed back by Trump when he withdrew from the agreement(nuclear agreement).A sanction can be comprehensive or non comprehensive..any country, not just a US, can place sanction. This is a recent one:

Iran Issues Sanctions on Top Trump Admin Officials, Sen. Cruz

6078e030937f549980e3267a97b69dfe?s=24&d=https%3A%2F%2Ffreebeacon.com%2Fwp-content%2Fthemes%2Ffreebeacon%2Fimages%2Fsmoking-man-100.jpg&r=g Adam Kredo
1 day ago
Sen. Ted Cruz

Sen. Ted Cruz / Getty Images

Iranian lawmakers are preparing to issue a salvo of sanctions on top Trump administration figures and their supporters in Congress, according to reports in the country's state-controlled press that have already elicited reaction from those officials targeted.

Iran's parliament has set the stage for Tehran to sanction White House National Security Adviser John Bolton, Treasury Secretary Steven Mnuchin, and Sen. Ted Cruz (R., Texas) for what Iranian officials have described as their "long record of animosity towards Iran."

The sanctions would ban each of the Americans from ever traveling to Iran, bar them from engaging in any sort of talks with Iranian regime figures, and deny them the ability to trade with any Iranian entity.

 

"The bill calls for lifetime bans on U.S. National Security Adviser John R. Bolton, U.S. Secretary of Treasury Steven Mnuchin, and American senator Ted Cruz and their family members' traveling to Iran, in a reaction to Washington's embargos on Iranian officials, and these figures' strong hostile measures against Iran in the past few years," Iran's state-controlled Fars News Agency reported, adding the measure is payback for Bolton, Mnuchin, and Cruz seeking to isolate the Islamic Republic.

So, technically, yes it is legal to own rial but a bigger institution like a bank might be barred from dealing any such exchange transaction from rial to dollar.

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1 hour ago, screwball said:

Iraq to deposit billions in TBI to pay for Iran’s energy import: Source

Sun Aug 25, 2019 04:07PM [Updated: Sun Aug 25, 2019 04:34PM ]
  1. Home
  2. Iran
  3. Economy
A handout picture provided by the Iranian presidency on July 22, 2019 shows Iranian President Hassan Rouhani (R) posing for a picture with Iraqi Prime Minister Adel Abdel Mahdi at Sa’ad Abad Palace Complex, the presidential residence, in the capital Tehran. (AFP photo) A handout picture provided by the Iranian presidency on July 22, 2019 shows Iranian President Hassan Rouhani (R) posing for a picture with Iraqi Prime Minister Adel Abdel Mahdi at Sa’ad Abad Palace Complex, the presidential residence, in the capital Tehran. (AFP photo)

A senior source active in Iran’s trade with Iraq says the Arab country is to deposit several billions of US dollars in an account in an Iraqi bank to pay for imports of energy from Tehran as well as for other debts.

Seyyed Hamid Hosseini said on Sunday that $4-5 billion will be deposited to the special account in the Trade Bank of Iraq (TBI) to settle Iraq’s debts to Iran, including those related to the imports of electricity and gas over the past years, based on a recent agreement between governments of the two neighboring countries.

Hosseini, who serves as the secretary of Iran-Iraq Joint Chamber of Commerce, told the Tasnim news agency that authorities from the two countries had agreed to use the account as an special financial instrument to evade US sanctions on Iran and allow Tehran to pay for imports of non-sanction goods through the account.

“Unfortunately, in practice ... this mechanism hit a snag and became entangled in administrative bureaucracy,” he said, adding that American bank JPMorgan Chase, which controls shares in the TBI, has been stonewalling Iran’s access to the account.

Hosseini said businessmen and private sector activists had currently no major problems doing trade between Iran and Iraq, adding that the TBI mechanism had been expected to accommodate government-to-government transactions between the two countries.  

Iran is still the number one supplier of natural gas and electricity to Iraq despite growing pressure from the United States which seeks to cut the exports to zero.

Baghdad has secured rounds of waivers from US sanctions, insisting that it has no alternative to replace energy imports from Iran.

 

Timing goes hand in hand with Kurds visit to Baghdad this week.  

140

:cigar:

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Relations between Iran and the US have deteriorated since Washington withdrew last year from a 2015 deal to limit Iran's nuclear activities.

However, on Monday, Mr Trump said he had "good feelings" about the prospect of a new nuclear deal with Iran.

I think that the new deal is set to be signed..just a matter of time for Iran to sign it...and when they do, goodbye sanctions....all good from here on then. Cheers all 

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3 hours ago, navira said:

Relations between Iran and the US have deteriorated since Washington withdrew last year from a 2015 deal to limit Iran's nuclear activities.

However, on Monday, Mr Trump said he had "good feelings" about the prospect of a new nuclear deal with Iran.

I think that the new deal is set to be signed..just a matter of time for Iran to sign it...and when they do, goodbye sanctions....all good from here on then. Cheers all 

Yep.....it will happen...and a big part of this is them rejoining the international monetary system....what I find really interesting is the talk of them not dipping the usd in trade? For years all the talk has been about the euro now they are talking keeping usd? Go trump! 

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3 minutes ago, screwball said:

Yep.....it will happen...and a big part of this is them rejoining the international monetary system....what I find really interesting is the talk of them not dipping the usd in trade? For years all the talk has been about the euro now they are talking keeping usd? Go trump! 

Trump is ready to give them loans...he wants Iran to succeed n be a good player. Trump wants to meet Iran's president in few weeks n expect the new agreement sign n enforce..

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2 minutes ago, lmb4321 said:

maybe he lifts the sanctions?...

Yup..

No date for a meeting was set. But when asked if Macron’s estimate of “within weeks” sounded realistic, Trump said, “It does.” Both he and Rouhani are scheduled to attend the U.N. General Assembly in New York during the last week of September.

 

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10 minutes ago, navira said:

Yup..

No date for a meeting was set. But when asked if Macron’s estimate of “within weeks” sounded realistic, Trump said, “It does.” Both he and Rouhani are scheduled to attend the U.N. General Assembly in New York during the last week of September.

 

I will not be surprised if sanctions are lifted before then....Trump said Monday that “we’re looking for no nuclear weapons, no ballistic missiles and a longer period of time” for current sunset clauses in the nuclear deal. “Very simple,” he said. “We can have it done in a very short period of time.”

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3 minutes ago, navira said:

I will not be surprised if sanctions are lifted before then....Trump said Monday that “we’re looking for no nuclear weapons, no ballistic missiles and a longer period of time” for current sunset clauses in the nuclear deal. “Very simple,” he said. “We can have it done in a very short period of time.”

There is a good chance we will see some sort of meeting, but of course the big issue is not so much the meeting itself, from an Iranian perspective, at least,” Tabatabai said. “What matters at the end of the day is sanctions relief.”

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Iran rial keeps rallying amid reports that sanctions might be eased

Mon Aug 26, 2019 01:19PM
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A man pays using Iranian rials at a shop, in Tehran on July 31, 2019. (AFP photo) A man pays using Iranian rials at a shop, in Tehran on July 31, 2019. (AFP photo)

Iran’s currency rial keeps rallying against the US dollar after reports emerged from a summit of the G7 group of industrial nations that American sanctions on Tehran might take a different course in the future.

The rial was trading at a months-high of 112,500 against the US dollar on Monday afternoon local Iranian time, according to currency rate websites and local media reports.

That comes a month after the rial began surging against foreign currencies despite rising tensions between the United States and Iran in the Persian Gulf.

The rial plunged from highs of 50,000 against the dollar in early months of 2018 to historic lows of 190,000 in September, just before US President Donald Trump imposed a series of new sanctions on Iran.

The new jump for the rial came a day after Iranian Foreign Minister Mohammad Javad Zarif unexpectedly flew to France to hold talks with senior officials of the country while they were hosting negotiations between G7 leaders, including Trump, on how to find a way out of a the current political standoff with Iran.

Trump hinted during G7 summit that he might have second thoughts about Iran sanctions as he faces the prospect that his policy of maximum pressure might fail permanently.

Trump claimed in May, when he toughened bans on Iran’s sale of oil, that the country would be forced to resume talks on its nuclear program to save its economy from a freefall.

However, reports over the past months have suggested that Iran has managed to weather the harsh impacts of the American sanctions.

The Bloomberg said in a report last week that Iran’s tightened control on currency transfers and its reform plans for various sectors of the economy had already yielded results, adding that businesses and households were adapting to the situation that has followed the sanctions.

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Trump hinted during G7 summit that he might have second thoughts about Iran sanctions as he faces the prospect that his policy of maximum pressure might fail permanently.

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