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Central Bank of Iran: We can not provide hard currency

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BAGHDAD (Reuters) - 
The collapse of the Iranian currency against the dollar is an internal affair of the Iranian republic and has a positive impact on Iraq, the economic expert said on Monday. 
Jabbar said in an interview with "Al-Ghad Press" that "the financial deposit of the Iraqi investor in Iranian banks and banks is not affected by the decline or collapse of the Iranian Toman against the US dollar, being considered a foreign deposit remains the same with their benefits in a certain investment circle," adding that "The stock market and securities and the basket of foreign currencies against the Iranian currency will certainly affect the decline or collapse of the Iranian Toman."

"The decline of the Iranian currency does not affect the Iraqi investors because the decline or collapse of the Tuman is because of the sanctions imposed by the United States of America on Iran, and therefore do not reflect a serious market," noting that "the process of retreat or collapse of the Iranian Toman on Iraq Will have a positive outcome, because Iraq is a country importer of Iranian goods. " 

"The decline in the Iranian currency will reduce the investments in Iran and begin to move towards Iraq in light of the improved security and economic situation in Iraq," Jabbar said, adding that "Iraqi imports will be booming because the financial value of imported quantities will be less as a result of the decline of Atoman against the US dollar, Fruits and Iranian milk. "
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The foreign exchange rate against the Iranian riyal will see an inevitable decline in the coming days, pointing out that the foreign exchange reserve is in an excellent position due to the good sales of oil.

"According to indicators such as inflation and growth, the Iranian economy is moving in the right direction and towards more movement and recovery," Waleedallah Saif told reporters.

Saif stressed that investment in foreign exchange is not economically justified, advising not to transfer assets to foreign currencies to avoid the inevitable damage. 

The Iranian riyal has been steadily declining against foreign currencies in recent times due to several factors, including increased demand for these currencies during the birthdays and the start of the new Iranian year (21 March 2018).

 

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from yesterday..

Iran / Iran date: 2018 Jan / Canon the second 21 - GMT 12:02
 
 
 

The Iranian currency has continued its downward trend against foreign currencies, especially the dollar, the euro, the pound and the Chinese yuan since the birth of Christmas, and the start of the countdown to the start of the new Iranian year (March 21).

During the period December to March, there is usually a rise in foreign exchange rates against the riyal as domestic demand for foreign travel increases and local companies settle their accounts at the end of the Iranian year (ending March 20).

The price of the US dollar in the free market reached about 46 thousand riyals on Sunday, while the official price offered in the bids of the Central Bank of Iran to cover transactions and imports more than 36.6 thousand riyals now.

Commenting on this, Central Bank Governor, Leila Saif, in a tweet on the social network "Twitter" two days ago, that the exchange rates will decline during the months of "Bahman" and "Esfand" Iranians, the period of January 21 - 20 March 2018 , Apparently referring to the central bank's intervention in the market balance by injecting more foreign exchange to curb growing demand.

However, other factors are attributed to the decline in the riyal currency, including the US economic pressure, which violates the nuclear agreement between Iran and the international 5 + 1 group. Observers believe that the extension of the US president's decision to freeze the embargo against Iran for another four months is conditional on amending the agreement, "Catastrophic flaws" and hinting that the extension would be the last if the agreement is not changed, has overshadowed the pace of foreign investment influx into Iran and prompted investors to hedge in this regard.

In addition, observers believe that the attempt to stabilize the national currency in the past five years in order to reduce the rate of inflation to a single number of factors that have severely affected foreign investment in the post-embargo phase.

On the other hand, the deputy chairman of the Iran-China Chamber of Commerce said Saturday that the International Financial Action Task Force (FATF) has continued to put pressure on the accounts of Iranian traders in China, whose trade with Iran reached 32 billion dollars in the first 11 months of the year. 2017, where VATV is due to make its decision on Iran in the coming weeks after it temporarily suspended it under the nuclear deal from a list of countries with "worrying" financial deals.

China is an important source of foreign currency to Iran. Exports of non-oil goods reached 6.1 billion dollars in the 11 months, as well as imports of about 25 percent of Iranian oil during this period, where observers saw that the pressures of the International Financial Action Group may affect the flow of flow These assets, as well as their hindrance to foreign investments, but this situation will be temporary as the "VATV" to make its decision on lifting Iran from the banned list in the next three weeks.

 

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So at least the Dinar is gaining value against Iran. Maybe the lightbulb will come on and Iraqis will get addicted  to cheap imports. 

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2018/01/23 (00:01 PM)   -   Number of readings: 41   -   Number (4118)
 
 
The difficulties of the Iranian Toman are positively reflected on Iraq



Baghdad / Fadia al-Jawari 
 

The number of specialists in economic affairs reduces the potential impact of the devaluation of the Iranian currency against the US dollar on Iraqi deposits in Iran, pointing out that it has positive repercussions on the Iraqi economic situation and reduces the market value of Iraqi imports as one of the main importing countries for Iranian goods .

"The financial deposit of the Iraqi investor in the Iranian banks and banks is not affected by the decline or collapse of the Iranian Toman against the dollar," said Central Bank Information Manager Acer Jabbar in an interview with Al-Mada. "The deposit of the Iraqi investor in the Iranian banks and banks is not the same as its interest in a certain investment department, Shares and securities and the basket of foreign currencies against the Iranian currency will certainly be affected by the decline or collapse of the Iranian Toman. " 
The value of the Iranian currency (the riyal) or (the Toman) a continuous collapse against foreign currencies for the first time at this level, for the second week in a row, reaching an unprecedented level, where the exchange rate of the dollar on the black market local 46 thousand riyals per dollar.
"The decline in the Iranian currency does not affect Iraqi investors because the decline or collapse of the Toman is due to the sanctions imposed by the United States of America on Iran, so there is no serious reflection on the Iraqi market. On the contrary, "This decline will reduce the investments in Iran and begin to move towards Iraq in light of the improvement of the security and economic situation of Iraq," noting that "the Iraqi import will be in recovery because the financial value of quantities imported Will be lower as a result of the decline Altoman against the US dollar Castirad fruit and vegetables Iranian dairy. "Turn, says banking expert Ghazi, said that"
"The travel of citizens to Iran to deposit their funds in their banks or invest in them, earlier has important implications for the future of the private banking sector, which has seen the performance faltering with weak control over it, saying: The private banks were facing the problem of lack of liquidity, The most important of which is "the failure of the contractors and importers to obtain their dues from the government, which made them delay in returning the money to the banks and pointed out that this has" exacerbated the problem of private banks with their depositors. "
"The supervision is now focused on private banks to contribute to the process of economic development, through the development of customer service in accordance with international standards and standards," he said, noting that "the Department of Banking Awareness and Public Protection, was directed to receive complaints from customers through international calendars, "Noting that" the presence of troubled banks in compliance with the requirements of the Central Bank on the subject of combating money laundering, noting that "dinars in circulation of 42 trillion Iraqi dinars, or about 35 billion dollars, and the banking system 15 percent, and the rest is stored in houses For the displeasure of the people Li banks so it is necessary to educate people to bid farewell to banks.
It is noteworthy that "the Central Bank announced earlier, the approval of the Council of Ministers on the establishment of a company to ensure deposits in government and private banks with a capital of 100 billion dinars, and aims to" encourage citizens to deposit their money in banks instead of hoarding, which amounts outside the banks about 30 Trillion dinars. "The banking system in Iraq consists of 54 banks, and is divided according to ownership between seven government and 23 private trade, including 9 Islamic banks, in addition to 15 branches of foreign banks The economic experts in Iran, the collapse of the local currency and the rise in the dollar to the inability Central Bank to pump the currency Sidearms in the markets.

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2 minutes ago, yota691 said:

"dinars in circulation of 42 trillion Iraqi dinars, or about 35 billion dollars, and the banking system 15 percent, and the rest is stored in houses For the displeasure of the people Li banks so it is necessary to educate people to bid farewell to banks.

 

2 minutes ago, yota691 said:

and aims to" encourage citizens to deposit their money in banks instead of hoarding, which amounts outside the banks about 30 Trillion dinars.

 

Looks like there are some Iraqi Dinar numbers here. I am not sure if this is a recycled article to throw off the true nature of the Iraqi dinars in circulation and/or hoarded in the homes of Iraqi citizens. I sure hope these Iraqi Dinar HAVE NOT fallen into the hands of the Iranians.

 

Go Moola Nova!

:pirateship:

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Dinar in circulation 42 trillion about $35 billion dollars 

 

CBI the adequacy of Iraq’s financial reserves reached 160 percent.... $49 billion dollars + 89 Ton of gold

 

They can easily do $1:1

 

Go CBI

Go new monetary policy 

Go $1:1

 

 

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IRAN will be calling in all of its markers from Iraq to sustain the US sanctions on Iran! More and more Iraq leaders will be seen taking "Trips" to Iran . I wonder why ! Money flow !

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 Friday, 16 February 2018 22:15
 
 

E5C577A3-D62D-4BB6-AA50-0FAB500764D9_w12

NCRI Staff

NCRI - The U.S. dollar’s rise against the Iranian rial has led to serious concerns among different social classes, the middle and low-income ones in particular, says an Iranian regime’s economic expert while pointing to the destructive effects of U.S. dollar appreciation on the country’s economy.

State-run Fararoo websites on February 14, 2018, quotes Hossein Raghfar as saying “the sharp rise in currency exchange rates against Iran’s rial will have shocking consequences for the society. Unfortunately, no one is paying attention to the repercussions of dollar’s rise. Such situation in many countries has led to something referred to as ‘bread uprising’.”

Regarding the consequences of dollar’s rise against the rial, the regime’s expert says “this will have devastating effects, particularly on low-income population. That’s because many of them live in a too economically difficult and fragile situation. Any further pressure could lower the economic tolerance threshold for many families, even among the middle class.”

According to Raghfar “people hold the entire regime, including such policy-making bodies like the parliament, responsible for the current situation. And they’re right.”

“In a country where more than 90 percent of foreign currency is distributed and controlled by the government, any kind of disruption in supply could have harmful effects on the country’s economy”, says Raghfar, adding “when people hear about widespread corruption among officials, they more than ever consider themselves as the victims of the policies which by no means address the majority of people’s needs and demands. Thus, occurrence of such incidents like the recent unrests would be more probable, widespread, and predictable.”

“Government officials’ blaming the psychological factors, and not the economic ones, for the dollar appreciation is not correct. It only serves to evade realities and responsibilities. The fact is that what has happened is totally rooted in economics’ supply and demand principle, with the government’s budget deficit being the main reason behind current rise in dollar exchange rate”, says the regime’s economic expert.

A 6000-toman dollar: predicts an economic analyst

According to state-run Shahrvand newspaper, the U.S. dollar is on the rise again and its exchange rate against Iran’s rial has edged closer to 50,000. This is while the unharnessed foreign currency appreciation and market instability has caused many economic activists to come out in criticism.

“The U.S. dollar will rise up to 60,000 against Iran’s rial”, says economic analyst Parviz Javid, adding “the currency spring has been set free and the dollar’s upward movement has just begun.

“Regime’s Central Bank, on the other hand, has not yet given any clear explanation in this regard and has not been able to control the situation, either. The Central Bank is currently empty-handed and is incapable of managing the market by currency injection. The fact is that the big entity is not familiar with any other strategy, either.”

The Central Bank’s poor performance

Meanwhile, regime’s banking expert ‘Ahamd Hatami-Yazd’ points to speculation and fake demands as the reasons behind current U.S. dollar appreciation, saying “not only currency brokers, but many people as well rush to the currency market to invest on dollar when they feel the least amount of tension in the market.”

“Such demand for foreign currency is not for buying goods or traveling abroad, but it’s merely aimed at making a profitable investment, which by itself could disrupt the market.” The banking expert then points out that the U.S. dollar will even go higher against Iran’s rial, adding “the Central Bank has put on a significantly poor performance.”

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%D8%AA%D9%81%D8%A7%D9%82%D9%85-%D8%B9%D8

TEHRAN (Reuters) - Iran's central bank is wracked by desperate and desperate measures to stop the riyal's slide against foreign currencies such as the dollar as political leaders resorted to threats and accusations, especially Washington's pressure on European banks that "do not dare" to work with Tehran.

The Iranian riyal lost more than 25 percent of its value against the dollar in the past six months and fell to more than 48,000 riyals to the dollar on Wednesday as hopes of a surge in foreign investment faded as US President Donald Trump continued to threaten to end the nuclear deal with Iran.

The central bank announced the easing of the interest rate ceiling imposed in September on the benefits of funds deposited, to encourage depositors to keep their money in riyals instead of buying other currencies and smuggling money abroad.

Traders confirmed the widening flow of money out of the country because of fear of loss of value, especially Iraqi funds deposited in Iran by traders and corrupt Iraqi officials.

The central bank's measures will allow Iranian banks in the next two weeks to give up to 20 percent interest on fixed-term deposits of 15 percent, according to media reports.

The central bank also took another action to stop the growing demand for the dollar, where he recently offered to sell gold coins at "attractive" prices.

The state-run Iran Daily reported that the authorities also closed bank accounts belonging to some 775 people considered to be "disrupting the local exchange markets" after saying they traded in the market equivalent to about 200 trillion riyals, more than 4 billion dollars.

Mohammed Baqir Nubakht: Our problem is the heavy climate created by Washington. No one dares to work with us 
These steps come after the police closed ten exchange offices last Wednesday and arrested about 100 ATMs, and the state television broadcast pictures of the campaign of raids.

"The financial authorities have been able to identify speculators in the exchange market ... We will use all means to get out of this situation and restore calm to the market," local press quoted the central bank governor as saying.

The dollar was equivalent to 10,000 riyals in 2010, but the tightening of US and European sanctions on Iran over its nuclear program from the end of 2011 led to a decline in the Iranian currency.

The nuclear deal signed between Iran and the six major powers in July 2015 raised hopes for an improved economic situation, foreign investors' access and the appreciation of the national currency.

But these hopes have long since ebbed and worsened dramatically after a wave of protests swept Iran last month for economic reasons, as major foreign banks avoided entering Iran again because of fear of sanctions if US sanctions were violated.

Iranian Vice President Mohammad Baqir Nobkhat, who is also in charge of budget and planning, pointed out that there are major problems facing the financial balances as well as the country's monetary reserves.

"Some countries, such as India and China, have set conditions under which we will receive part of our oil revenues in the form of goods from these countries," the news agency quoted Nobkcht as saying.

"Our main problem is the heavy climate created by the United States for European banks, which do not dare to work with us," he said.

The election of US President Donald Trump, who consistently denounces the nuclear deal, has led to a toughening of the US position toward Tehran and has led to the alienation of foreign investors and major international banks.

Government officials, including President Hassan Rowhani, have tried in recent weeks to reassure citizens about the riyal, but the authorities have been criticized for failing and not taking practical measures.

According to the economic and popular circles in Iraq, the decline of the Iranian currency began to show positive indicators through the decline in imports of Iranian goods, and the return of many of the funds that were deposited in Tehran by merchants and corrupt political classes loyal to Tehran.

The Iraqi newspaper Al-Mada reported to Iraqi Central Bank Information Director, Acer Jabbar, that the decline of the Iranian currency has a positive effect by reducing the import bill and reducing the Iraqi investments in Iran, which began to return to the country in the improvement of the security and economic situation in recent times.

Analysts say that the wave of the return of Iraqi funds can accelerate after the approval of the Council of Ministers to establish a company to ensure deposits in government and private banks to encourage citizens to deposit their money in local banks.

Observers in Tehran indicate that many Iranians across Iran are chasing any foreign currency that could reach their hands in order to preserve the value of their savings in light of the free fall of the value of the Iranian riyal.

This began to be reflected in a significant rise in the prices of all goods and consumables, which restored popular strife and anger from government policies and could spark a new spark of protests again.

The Arabs of London

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Look At All Of The Iraqi References Within This Article ! :o 

 

:D  :D  :D 

 

 

 

LINK

Iran's isolation worsens A quarter of its currency is erased in six months

%D8%AA%D9%81%D8%A7%D9%82%D9%85-%D8%B9%D8%B2%D9%84%D8%A9-%D8%A5%D9%8A%D8%B1%D8%A7%D9%86-%D9%8A%D8%B4%D8%B7%D8%A8-%D8%B1%D8%A8%D8%B9-%D9%82%D9%8A%D9%85%D8%A9-%D8%B9%D9%85%D9%84%D8%AA%D9%87%D8%A7-%D9%81%D9%8A-6-%D8%A3%D8%B4%D9%87%D8%B1.jpg 

18th February, 2018
Iran's central bank is wracked by desperate and desperate measures to stop the riyal's slide against foreign currencies such as the dollar as political leaders resorted to threats and accusations, especially Washington's pressure on European banks that "do not dare" to work with Tehran.

The Iranian riyal lost more than 25 percent of its value against the dollar in the past six months and fell to more than 48,000 riyals to the dollar on Wednesday as hopes of a surge in foreign investment faded as US President Donald Trump continued to threaten to end the nuclear deal with Iran.

The central bank announced the easing of the interest rate ceiling imposed in September on the benefits of funds deposited, to encourage depositors to keep their money in riyals instead of buying other currencies and smuggling money abroad.

Traders confirmed the widening flow of money out of the country because of fear of loss of value, especially Iraqi funds deposited in Iran by traders and corrupt Iraqi officials.

The central bank's measures will allow Iranian banks in the next two weeks to give up to 20 percent interest on fixed-term deposits of 15 percent, according to media reports.

The central bank also took another action to stop the growing demand for the dollar, where he recently offered to sell gold coins at "attractive" prices.

The state-run Iran Daily reported that the authorities also closed bank accounts belonging to some 775 people considered to be "disrupting the local exchange markets" after saying they traded in the market equivalent to about 200 trillion riyals, more than 4 billion dollars.

Mohammed Baqir Nubakht: Our problem is the heavy climate created by Washington. No one dares to work with us 
These steps come after the police closed ten exchange offices last Wednesday and arrested about 100 ATMs, and the state television broadcast pictures of the campaign of raids.

"The financial authorities have been able to identify speculators in the exchange market ... We will use all means to get out of this situation and restore calm to the market," local press quoted the central bank governor as saying.

The dollar was equivalent to 10,000 riyals in 2010, but the tightening of US and European sanctions on Iran over its nuclear program from the end of 2011 led to a decline in the Iranian currency.

The nuclear deal signed between Iran and the six major powers in July 2015 raised hopes for an improved economic situation, foreign investors' access and the appreciation of the national currency.

"Our main problem is the heavy climate created by the United States for European banks, which do not dare to work with us," he said.

The election of US President Donald Trump, who consistently denounces the nuclear deal, has led to a toughening of the US position toward Tehran and has led to the alienation of foreign investors and major international banks.

Government officials, including President Hassan Rowhani, have tried in recent weeks to reassure citizens about the riyal, but the authorities have been criticized for failing and not taking practical measures.

According to the economic and popular circles in Iraq, the decline of the Iranian currency began to show positive indicators through the decline in imports of Iranian goods, and the return of many of the funds that were deposited in Tehran by merchants and corrupt political classes loyal to Tehran.

The Iraqi newspaper Al-Mada reported to Iraqi Central Bank Information Director, Acer Jabbar, that the decline of the Iranian currency has a positive effect by reducing the import bill and reducing the Iraqi investments in Iran, which began to return to the country in the improvement of the security and economic situation in recent times.

Analysts say that the wave of the return of Iraqi funds can accelerate after the approval of the Council of Ministers to establish a company to ensure deposits in government and private banks to encourage citizens to deposit their money in local banks.

Observers in Tehran indicate that many Iranians across Iran are chasing any foreign currency that could reach their hands in order to preserve the value of their savings in light of the free fall of the value of the Iranian riyal.

This began to be reflected in a significant rise in the prices of all goods and consumables, which restored popular strife and anger from government policies and could spark a new spark of protests again.

The Arabs of London

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On ‎2‎/‎18‎/‎2018 at 4:59 AM, yota691 said:

These steps come after the police....last Wednesday arrested about 100 ATMs,

                   

                                            Book 'em, Dan-o !! :cowboy1:

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17 hours ago, DinarThug said:

Look At All Of The Iraqi References Within This Article !

 

All the Maliki team cockroaches will be scrambling to move their stolen assets from Iranian banks now. Luigi Financial Services LLC in association with Sterling Currency Group says ZIM is looking good, but don't let go of your Dong. :lol: 

 

While the IQD train keeps a chuggin' along. 

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The governor of the Central Bank of Iran and Crown Prince of Allah, announced the return of stability to the foreign exchange market after combating irregularities.

Saif said after his participation in the meeting of the Council of Ministers on Wednesday, followed by "Fares", that stability is achieved following the procedures followed by the police and to address the irregularities of cashiers and sales and buying transactions that take place in a private atmosphere and manipulation of prices.

Saif stressed that stability returned to the exchange market and that this process will continue, pointing out that the market will balance and the exchange rate of foreign currencies against the riyal has declined in the past four days, which reflects that the imaginary fluctuations in the way of receding.

The price of foreign currencies against the Iranian riyal recorded an unprecedented rise recently, called for the launch of a security campaign in Tehran to arrest the manipulators of prices, in parallel to the issuance of certificates of deposit at a rate of 20 percent, to stimulate investment rather than speculation in currencies and gold.

Central, Iranian, Saif
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On 2/19/2018 at 6:53 AM, King Bean said:

                   

                                            Book 'em, Dan-o !! :cowboy1:

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Some folks have very troubling unresolved Bank issues - probably not breast fed from a quality goat -_- Probably in trouble now, huh.

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The Central Bank of Iran announced the launch of the "Nima" electronic system in order to unite foreign exchange transactions exchange offices.

The central bank had set up the system on February 17 to register foreign exchange transactions in a limited number of exchange offices, and will offer training and training courses for joint exchange offices from next week.

In parallel, the Ministry of Industry, Trade and Mines, in cooperation with the Iranian Trade Development Organization, will organize enlightening and training courses for traders in order to contact the exchange market operators in order to take effective steps towards developing market harmony.

The system aims to support official exchange offices, facilitate trade and regulate the market, as it will provide high added value to traders, traders and sellers of currency buying and selling. 

The price of foreign currencies against the Iranian riyal recorded an unprecedented rise recently, necessitating the launch of a security campaign in Tehran to arrest price manipulators, in parallel with the issuance of certificates of deposit at a rate of 20 percent, to stimulate investment rather than speculation in currencies and gold.

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the Iranian currency is falling to its lowest level

Iranian currency is at its lowest level

 Twilight News    

 8 hours ago

The Iranian currency fell to its lowest level on Monday, as the dollar peaked above 50,000 riyals for the first time, while analysts said this was due to the stern US position on Tehran.
The riyal lost about a quarter of its value in the last six months to reach $ 50,860 riyals, according to the Financial Information Market, a reliable website tracking open market volatility.

The gap continued to widen with the official exchange rate of 37686 riyals on Monday.

The Iranian government took tough measures last month to stem the devaluation of the local currency on the open market, where it arrested foreign currency traders, froze speculators' accounts, raised interest rates and bought millions of dollars in an effort to curb its rise.

Many analysts believe the United States will withdraw from the nuclear deal reached with Iran in 2015 when it is due to be renewed in May, which means re-imposing sanctions, which have greatly affected the Iranian economy.

Iranian officials have complained that citizens are racking up billions of dollars at a time when local banks are short of liquidity.

The devaluation of the currency is a key problem for the government of President Hassan Rowhani, who was hoping to attract large foreign investment after the nuclear deal.

The collapse of the currency would be another expulsive factor for potential investors, who already face major hurdles as a result of US sanctions unrelated to the remaining nuclear file.


Keywords: 

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8 minutes ago, Butifldrm said:

The Iranian government took tough measures last month to stem the devaluation of the local currency on the open market, where it arrested  foreign currency traders, froze speculators' accounts, raised interest rates and bought millions of dollars in an effort to curb its rise

Geez.. arresting foreign currency traders. Tis now illegal to trade with Iran currency. Maybe they shouldn't sell it. Oh but they just bought a bunch of $$ with it.  Complete idiots. Freeking going down!

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the Iranian currency is falling to the lowest level in its history

Iranian currency falls to the lowest level in its history
 
 Twilight News    
 
 one hour ago
 
 

The price of the Iranian currency against the dollar in recent days fell to an unprecedented level in the history of the country, where the dollar exceeded the barrier of five thousand tomans after four thousand tomans in the month of October.

As the Iranian currency continues to decline, exchange shops in the main market in Ferdosi Square in central Tehran are refusing to sell the dollar or the euro as the market stabilizes.

A member of the Budget Committee of the Iranian parliament, Jabbar Kuchki Nejad, the government, working to raise the dollar to meet the budget deficit, which was denied by the government earlier by the Iranian Vice President for Economic Affairs Mohammad Nahwandian, stressing that the administration of President Hassan Rowhani trying hard to achieve Stability in the market and fixing the price as well as controlling inflation and rising prices.

In turn, member of the Economic Committee in the Iranian parliament, Nasir Mousavi Largani, ruled that the US currency would return to less than 4,000 tomans. "We have not seen in the last few years the local currency's decline to this level, and of course we will not see any further devaluation of the Toman, Will improve significantly over the coming period. "

The devaluation of the local currency was the second in two months, as the Toman fell to the same level in early February, prompting the security forces to intervene and launch raids on the exchange market in central Tehran and arrest dozens of accused of manipulating the money market.

He also announced the closure of more than 750 bank accounts of brokers accused of violating the foreign exchange market.

Economists say the sharp drop in the Iranian currency is due to increased demand for the dollar during the days of Norouz, where hundreds of thousands of Iranians spend their holidays abroad.

Other experts attributed the decline to US President Donald Trump's announcement of an extended sanctions freeze on Iran for the last time, calling for an amendment to the nuclear deal, along with new sanctions on individuals and entities linked to Iran's nuclear program and missile program.

The Iranian currency was relatively stable with the signing of the nuclear deal in 2015, but the prospect of Washington's withdrawal from the agreement will challenge the government of President Hassan Rowhani, and its ability to restore stability to the market.

 
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I'm hoping this is a true sign that Iraq is controlling the number dollars crossing the borders into Iran with the CBI's  implementation of control or closing of the illegal exchanges.   The lack of dollars in Iran would definitely increase the cost of purchase and therefore decrease the value of the currency. ;)

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On ‎2‎/‎19‎/‎2018 at 8:53 AM, King Bean said:

                   

                                           

Related image you see  why Iraq is having such a hard time putting   millions of dinar in a machine ----> it explodes  into a fire ball trying to  push out 5,million dinar for a shopping spree :lol:

 

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Those dollars ar probably coming from the Federal Reserve. Force the Rial down and force the demand for the dollar up, then make the dollar easy to get and use. These sanctions basically force Iran to dump their currency and support ours. It makes sense if Iraq is going to start using the dinar again, and stop using the dollar, we need something to pick up the slack. I give you Iran. Our worst enemy now supporting the value of the dollar by forced useage. Just another day at the office.

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The Iranian riyal loses one-third of its value

09-04-2018 11:53 AM
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Baghdad News -

LONDON ( 

Reuters) - Iran's dollar fell another record against the dollar, losing about a third of its value within six months. But the Iranian leader Ali Khamenei considered that "the power of the regime will grow despite the nose of the enemies," and talked about the "stage of pride" for his country. The Iranian currency fell yesterday by more than 6 percent, as the dollar is worth 55200 riyals when the open market closed. The riyal lost about 30 percent of its value against the dollar within six months, at a time when the difference between the open market price and the official exchange rate set by the central bank yesterday at 37814 riyals to the dollar, which threatens to increase inflation again. Every week, long queues in Tehran are being held in front of money exchange offices.

"It is clear that there is an increase in the number of dollar buyers, who believe that the United States will withdraw from the nuclear agreement" between Tehran and the six countries in 2015. "The government can not do anything when it frightens the market. If the United States comes out of the deal, the Iranian currency could collapse further to 70,000 riyals against the dollar. " 

The governor of the Central Bank, Crown Prince and Minister of Economy Massoud Karbissian, was summoned to an interrogation session to be held by the Shura (parliament) today. "The foreign exchange market is experiencing instability," the Mehr news agency reported, citing a "case that is a precedent in the history of Iranian criticism." 

As living difficulties worsen, Khamenei stressed that "the power of the regime will increase, despite the enemies' nose and conspiracies." He said that "the increase in their attacks stems from their sense of the extent of the growing capabilities of Iran," speaking of the "stage of pride" of his country.

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the  world banking , might be trying not to get Iraq`s currency up too the value of the region ---- but get the regions value down too Iraq`s  :huh:   ( maybe even lower than Iraq`s  that way the dinar will be kind of toilet paper  ) :lol:

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