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Iran's CB Discounts Effect of FATF Ruling on Forex Market 

 
Iran's CB Discounts Effect of FATF Ruling on Forex Market
Iran's CB Discounts Effect of FATF Ruling on Forex Market 

Governor of the Central Bank of Iran said whatever the anti-money laundering Financial Action Task Force decides on February 21, the decision will not affect the currency market.

The Paris-based global anti-money laundering watchdog issued a four-month deadline in mid-October, giving Tehran a last and final chance to comply with international anti-money laundering rules by February 2020. 

“The upcoming FATF decision, whether or not it extends the deadline, will not significantly affect our currency market,” Abdolnasser Hemmati wrote in a note on his Instagram account on Sunday.  

He was referring to the government’s political opponents and currency speculators who have launched a propaganda campaign claiming that the global anti-money laundering watch-dog will put Iran on its blacklist this month. 

 

Join the international monetary system or else?

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Financialtribune.com

Time

 
 
SATURDAY
February, 22 2020
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February 19, 2020 19:58

Iranian Rial Revaluation Crosses One Hurdle

 
Iranian Rial Revaluation Crosses One Hurdle
Iranian Rial Revaluation Crosses One Hurdle

The Majlis Economic Commission on Wednesday approved the provisions of a monetary bill based on which four zeros will be shaved off the national currency. 

As per the proposed ‘Reforming Monetary and Banking Law’ the monetary unit will change officially from the rial to the commonly used toman, the Central Bank of Iran website reported. 

The rial redenomination bill is an initiative by the government and was sent to the parliament last August, after being reviewed and approved by the Cabinet. 

It has to be debated and endorsed by the chamber to become law.  

 

https://financialtribune.com/articles/business-and-markets/102256/iranian-rial-revaluation-crosses-one-hurdle 

Edited by gregp

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