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vomer

CBI to Promote Currency Swap

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http://financialtribune.com/articles/economy-business-and-markets/40690/cbi-promote-currency-swap

Monday, May 2, 2016 - 02:00

CBI to Promote Currency Swap

  • Economy
  • Business And Markets

Lawmakers Sunday passed legislation that allows the central bank to sign currency swap agreements with Iran’s major commercial partners.
The CBI has been tasked with promoting the usage of local currencies in coordination with ministries of foreign affairs, economy, energy, oil, and ministry of industries, mining and commerce, Alef news website reported.
Law also requires the bank to provide Majlis with reports of its progress on the issue every six months.
Iran has been trying to avoid dollar transactions since the imposition of economic sanctions a decade ago and gradually replace the US currency with the Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won. Legislators also allowed the CBI to continue printing and distributing ‘Iran Checks’, urging the regulator to adhere to the limits set by the Money and Credit Council.
Iran Checks are financial instruments which the CBI is permitted to issue with the purpose of easing monetary affairs and preserve public interest and assets.
Export Development Bank of Iran, Export Guarantee Fund of Iran and Iran Foreign Investment Company received exemption from paying tax on the profit they make when selling foreign currency. The Majlis also exempted banks and licensed foreign exchange operators from paying value added tax on their forex deals. Value-added tax in Iran is 9%.

 

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I would really like to think this means something good.  Can someone give some clarification on this?

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Part of this IMO...SDR//Special Drawing Rights with currencies...Regional Reserves paying debt using one own currency of origin...and not in the US$$$..JMO

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gradually replace the US currency with the Chinese yuan, euro, Turkish lira, Russian ruble, and South Korean won

 

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This is their payoff to the Americans. Thanks a lot. This should devalue the dollar. Someone correct me if I'm wrong. Thank goodness we're not enemies with them.

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mmmm ,  look at who they are trading  currency with !  {  not  iran so much ,  but  that iran  is needing  dinars <-------- }   so  now iran is going to trade  what ever dollar they have  to cleans the country of the western bad  cash  and  get  ----> hard too find  dinars ,  that are  not  worn out ,   and  also  using  checks ,  but  checks  do not travel around , in street markets  to well ... and can not be broken  like  change  that is ...   and  a footer   note,   I  do like they are  including south Korean  money ,  hahaha  mine  is starting too look like  a  crazy good buy after all ....   now  if only iran  would  need  something   in  the range  of  say  5  trillion  dinars  and fast ....  I think we could finally see  the  value  points  moving in the correct  direction... for dinar  that is  happy  hump day  folksters 

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Devaluation of the US greenback is part of the global NWO conspiracy.  I think that this is all this is about.

Edited by vomer
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I agree Hammer! Raise Iraq's currency, and devalue the dollar =more money!!:twothumbs:

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Oh man.......this may become an all time year on a historical level once the basket of currencies starts to take their shape supposedly this fall...

I don't know if I should be somewhat frightened or excited right now :blink:....more whiskey indeed for me tonight:cheesehead:

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9 hours ago, vomer said:

Devaluation of the US greenback is part of the global NWO conspiracy.  I think that this is all this is about.

Thanks Vomer,

You sound like my father with this quote. The only difference is that was 40 years ago. LOL 

Novus ordo seclorum

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