Central Bank of Iran: We can not provide hard currency

[dinarbeleiver]

Why they haven’t gone in and caused regime change in Iran is beyond me- it’s well over due

[justchecking123]

Iran wants freedom...the anti-corruption factions have a TON of stroke in Washington DC. Anyone willing to do some internet digging will find plenty of information.

 

Rudi Bahktiar now works for Reuters and is trying to get things ramped up in the media. She's a huge advocate who quit CNN over sexual harrassment charges ...can't think of the woman's name offhand who's the face of Iran's new revolutionary movement, but there's plenty of forces at work behind the scenes for Iran's freedom from the mid-50's political fallout, The Shah, etc.

[normala rashid]

On 8/26/2018 at 7:06 PM, ChuckFinley said:

Have agree there normala rashid, For Iraq to be taken seriously international they need a global currency. September works for me too.

 

They need starting to global to first step . But Iraq can have struggle in global market . People are really tired with politic people . Society is victim from politic people . So many country and bankers get really struggling with economic. Planner , mixing or free system economic is really die . I told you the politic people make the private company and bankers struggling now . Government just thingking about the power and try make them good then understand want society really wants . 

 

i was planning project crypto to presenting  with bankers in my country  . People said .. bank is number 3 power into the country. I have make lot research. I dont know if people learn about astrology because we are going to age of aquarius means can be happens to change the old system to revolution. aquarius means technology and economic. Crypto revolution can be happens . Basically crypto or coin can replaced fiat money to around the world. I cannot give details because this not confirmation because i need approach to the bank how this system can contribute with society. Bitcoin just foundation to starting new revolution but more will become . I hope people will look at the crypto is important and look at the future and will be use it . 

[Theseus]

3 minutes ago, normala rashid said:

Basically crypto or coin can replaced fiat money to around the world. I cannot give details because this not confirmation because i need approach to the bank how this system can contribute with society. Bitcoin just foundation to starting new revolution but more will become . I hope people will look at the crypto is important and look at the future and will be use it . 

9

Bitcoin is the world's most expensive fiat currency, ounce for ounce. (Okay think of your computer as a coin). There very embodiment of a fiat currency is 99% of all cryptocurrency. There is absolutely nothing backing up bitcoin in terms of gold, precious metals, an economy of any sort other than the belief it has worth. People believe cryptocurrency is worth such and such and they will pay such and such. A lot of pundits believe crypto is a fad as their opinion stemmed from it, more specifically - bitcoin, not being truly tested in the open market. And it was recently tested, oh boy, was it ever. It lost over half from its all-time high in a very short period of time, not a very good sign for a currency trying to replace the world's currency. Cryptocurrency is considered a high risk and prone to high volatility, not not worth investing in but at the same time not an investment for low-risk investors. It's the reason JP Morgan Chase dropped it all together. For me, cryptocurrency still needs to be put through the wringer (tested via the market) as it continues in the mainstream. Right now those who are pimping it with "educational classes" for thousands are increasing their wealth not off of the currency but because of the currency. There is a difference. Is there a place for the cryptocurrency, if you believe in a one world order and one world currency there is. I can totally see the reasoning and rationale behind the currency but a currency that loses over half its value in a short time (months not years) is too volatile for the average investor at this juncture. The average investor panics too quickly and any sign of trouble usually drops the investment tout suite (pretty damn fast). Wealth does not happen when you hold onto something, wealth happens at the point of exchange. When bitcoin was hovering around 17K per and let's say you had 100 coins, you could make the argument that you had 1700K in bitcoin, but if you never traded it at that price point your real worth was whatever you paid for it. However, if you held onto it into the next year your stand in bitcoin dropped to nearly half that but again, your worth in bitcoin was what you paid for it. If you bought in at 12K and got out at 17K you made money. However, if you bought in at 12K held onto hoping the stairway to heaven would keep rising only to see it fall and fall you lost if you exchanged below 12K. However, if you still have it, bought in at 12K, and haven't exchanged you are still neutral and haven't lost nor gained any wealth because you haven't exchanged it. The exchange is when wealth creation or depletion happens. Until you exchange it, its just pixels on a screen worth whatever you initially paid for it. This holds true for any investment.

[Butifldrm]

Historical collapse of the Iranian currency

 

 Twilight News    

 

 44 minutes ago

 

 

The Iranian riyal hit a record low against the US dollar on the informal market on Monday as the economic situation deteriorated and the United States re-imposed sanctions on Tehran.

The exchange-rate website Bonbast.com, which tracks the informal market, said the dollar was offered at a price of up to 128,000 riyals.

The currency has been volatile for months because of weak economy, financial difficulties faced by local banks and heavy demand for the dollar from Iranians.

Iranians fear shrinking exports of oil and other commodities as a result of Washington's withdrawal from the nuclear deal in 2015 and the re-imposition of US sanctions on Tehran.

Parliamentarians dismissed the economy and finance minister three days ago after they blamed him for the collapse of the local currency and increased unemployment. A few weeks ago they sacked the minister of labor.

In addition to a measure to isolate the education minister, 70 deputies signed a memorandum aimed at isolating the minister of industry, mining and trade.

Iran's official unemployment rate is 12 percent, and among young people it is 25 percent in a country with 60 percent of its 80 million population under the age of 30. The riyal lost more than two-thirds of its value in a year.

Perhaps the worst is the way, with US officials saying they are seeking to cut Iran's oil exports to zero as a new round of sanctions begins in November.

 

Keywords: 

http://www.shafaaq.com/ar/Ar_NewsReader/6fd2a6e3-243e-4d15-b42f-4ad906885b02

[Floridian]

53 minutes ago, Theseus said:

Bitcoin is the world's most expensive fiat currency, ounce for ounce. (Okay think of your computer as a coin). There very embodiment of a fiat currency is 99% of all cryptocurrency. There is absolutely nothing backing up bitcoin in terms of gold, precious metals, an economy of any sort other than the belief it has worth. People believe cryptocurrency is worth such and such and they will pay such and such. A lot of pundits believe crypto is a fad as their opinion stemmed from it, more specifically - bitcoin, not being truly tested in the open market. And it was recently tested, oh boy, was it ever. It lost over half from its all-time high in a very short period of time, not a very good sign for a currency trying to replace the world's currency. Cryptocurrency is considered a high risk and prone to high volatility, not not worth investing in but at the same time not an investment for low-risk investors. It's the reason JP Morgan Chase dropped it all together. For me, cryptocurrency still needs to be put through the wringer (tested via the market) as it continues in the mainstream. Right now those who are pimping it with "educational classes" for thousands are increasing their wealth not off of the currency but because of the currency. There is a difference. Is there a place for the cryptocurrency, if you believe in a one world order and one world currency there is. I can totally see the reasoning and rationale behind the currency but a currency that loses over half its value in a short time (months not years) is too volatile for the average investor at this juncture. The average investor panics too quickly and any sign of trouble usually drops the investment tout suite (pretty damn fast). Wealth does not happen when you hold onto something, wealth happens at the point of exchange. When bitcoin was hovering around 17K per and let's say you had 100 coins, you could make the argument that you had 1700K in bitcoin, but if you never traded it at that price point your real worth was whatever you paid for it. However, if you held onto it into the next year your stand in bitcoin dropped to nearly half that but again, your worth in bitcoin was what you paid for it. If you bought in at 12K and got out at 17K you made money. However, if you bought in at 12K held onto hoping the stairway to heaven would keep rising only to see it fall and fall you lost if you exchanged below 12K. However, if you still have it, bought in at 12K, and haven't exchanged you are still neutral and haven't lost nor gained any wealth because you haven't exchanged it. The exchange is when wealth creation or depletion happens. Until you exchange it, its just pixels on a screen worth whatever you initially paid for it. This holds true for any investment.

 

This is brilliant, Thesus!  Thank you posting this.

It puts the whole "cryptocurrency thing" in perspective.  

 

[justchecking123]

1 hour ago, Theseus said:

Bitcoin is the world's most expensive fiat currency, ounce for ounce. (Okay think of your computer as a coin). There very embodiment of a fiat currency is 99% of all cryptocurrency. There is absolutely nothing backing up bitcoin in terms of gold, precious metals, an economy of any sort other than the belief it has worth. People believe cryptocurrency is worth such and such and they will pay such and such. A lot of pundits believe crypto is a fad as their opinion stemmed from it, more specifically - bitcoin, not being truly tested in the open market. And it was recently tested, oh boy, was it ever. It lost over half from its all-time high in a very short period of time, not a very good sign for a currency trying to replace the world's currency. Cryptocurrency is considered a high risk and prone to high volatility, not not worth investing in but at the same time not an investment for low-risk investors. It's the reason JP Morgan Chase dropped it all together. For me, cryptocurrency still needs to be put through the wringer (tested via the market) as it continues in the mainstream. Right now those who are pimping it with "educational classes" for thousands are increasing their wealth not off of the currency but because of the currency. There is a difference. Is there a place for the cryptocurrency, if you believe in a one world order and one world currency there is. I can totally see the reasoning and rationale behind the currency but a currency that loses over half its value in a short time (months not years) is too volatile for the average investor at this juncture. The average investor panics too quickly and any sign of trouble usually drops the investment tout suite (pretty damn fast). Wealth does not happen when you hold onto something, wealth happens at the point of exchange. When bitcoin was hovering around 17K per and let's say you had 100 coins, you could make the argument that you had 1700K in bitcoin, but if you never traded it at that price point your real worth was whatever you paid for it. However, if you held onto it into the next year your stand in bitcoin dropped to nearly half that but again, your worth in bitcoin was what you paid for it. If you bought in at 12K and got out at 17K you made money. However, if you bought in at 12K held onto hoping the stairway to heaven would keep rising only to see it fall and fall you lost if you exchanged below 12K. However, if you still have it, bought in at 12K, and haven't exchanged you are still neutral and haven't lost nor gained any wealth because you haven't exchanged it. The exchange is when wealth creation or depletion happens. Until you exchange it, its just pixels on a screen worth whatever you initially paid for it. This holds true for any investment.

Well stated.

 

Whether people believe this or not, if you know how liquidity and market volatility really works, this is an absolutely spot-on statement about crypto"currency."

 

I'm more interested/invested in the technology behind it. That has more economic leverage and staying power long-term...for now.

 

[markb57]

I believe the vast majority of the Iranian peoples would love to get rid of the mullahs and their dominance. Get the country back to pre 1979 living conditions. It is the people that will have to make this happen. 

[ChuckFinley]

2 hours ago, markb57 said:

I believe the vast majority of the Iranian peoples would love to get rid of the mullahs and their dominance. Get the country back to pre 1979 living conditions. It is the people that will have to make this happen. 

I would have to agree. They must really have had it with their leadership.  The down side is you can not walk over and tell them so. 

[dinarham]

Bad actors like Saddam ,Hitler ,etc., prey on the desperation that comes with economic  hard times . When I hear from Dems that Trump is setting himself of to become a dictator ,then he is doing a poor job because he is improving our economy ,

[yota691]

The Iranian riyal is falling to a record high of 138,000 riyals to the dollar

 

 

 

Source:

• Reuters

Date: 04 September 2018

The Iranian riyal fell to a record low against the dollar in the informal market on Tuesday, as the economic situation deteriorated and US sanctions were re-imposed on Tehran, an exchange-rate website said.

According to Bonapast.com, which monitors the informal market, the dollar was offered for sale at a price of SR 138,000.

The riyal hit a record low on Monday when the exchange rate was about 128 thousand riyals to the dollar, according to the site.

 

[10 YEARS LATER]

Xe.com has the Iranian Riyal - 1RR to USD at 0.0000238110 - Reckon that’s about  literally 

[Butifldrm]

The Iranian Rial reaches its peak of setbacks against the dollar

03:38 - 04/09/2018

 

Follow-up - Mawazin News 
The dollar exchange rate on Tuesday, set a new record for the Iranian Toman in the free market in Iran. 
The dollar exchange rate rose to 14,000 tumans (140,000 riyals) from 13,000 on Monday, contrary to expectations that the local currency would rise following the government's new economic package on August 6. 
It should be noted that the Iranian government has taken a package of measures to stop the significant rise in the dollar price in the country. 
In April, the government took a decision to prove the dollar exchange rate at 4,200 riyals (42,000 riyals) and banned exchange offices. 
However, these measures did not stand against the rise in the dollar, which prompted the government to implement measures under the name of a new economic package in August.
The new procedures allowed exchange offices to work again and set the dollar exchange rate by the free market rather than the state

https://www.mawazin.net/Details.aspx?jimare=9853

[Butifldrm]

Iman al-Zaidi Wednesday, 05 September 2018 01:30 p

 

The Iranian president claims: Washington will not succeed in regaining control of Tehran

 

 

Iranian President Hassan Rowhani claimed that Washington would not achieve its goals of imposing sanctions on his country and that it would not succeed in regaining control of Iran. 
This came during the opening of petrochemical projects in the south of the country. 
For his part, Ahmed Jannati, head of the Council of Experts of the leadership, said Europe's demands for further talks do not serve the nuclear agreement.  

AI

https://www.thebaghdadpost.com/ar/Story/120603/الرئيس-الإيراني-يدعي-واشنطن-لن-تنجح-في-إعادة-الهيمنة-على-طهران

[blueskyline]

Thanks Buti ...... I don't think the Revolutionary Guard will give another warning . What good is it to be a faithful supportive military when your leaders cant maintain the value of the currency you are paid in ?

[screwball]

What’s happening in the Middle East is exactly what trumps has engineered to happen. Countries are decoupling from the usd, the power in the east is slowly shifting, trump has openly stated that Iran has to much influence in Iraq, the sanctions placed on Iran are purely economic, they need to rejoin the worlds financial system and stop funding terrorist groups on the sly, trump has stated his sanctions are 1. Because of nuclear ambition and 2. Because they have not rejoined the world financial system. They have been trying to circumvent it for years. Under trumps new energy policy you will see a revalue of the Saudi Ryial, you will see a stronger Iran rial and Iraqi dinar. You will see trump unleash his new energy policy which will see the us scale back it’s purchase of oil and ramp up their own oil and gas production. Trump has said that the Middle East has had the power and wealth for years and this will change. 

[screwball]

15 hours ago, dinarham said:

Bad actors like Saddam ,Hitler ,etc., prey on the desperation that comes with economic  hard times . When I hear from Dems that Trump is setting himself of to become a dictator ,then he is doing a poor job because he is improving our economy ,

I think you need to remember who put these fools in power in the first place? The us!

[screwball]

On 9/4/2018 at 6:34 AM, markb57 said:

I believe the vast majority of the Iranian peoples would love to get rid of the mullahs and their dominance. Get the country back to pre 1979 living conditions. It is the people that will have to make this happen. 

Yep and go they will....it’s onky a matter of time. Iran is clearing house and quickly. More sanctions in November so they need to act

[screwball]

6 hours ago, blueskyline said:

Thanks Buti ...... I don't think the Revolutionary Guard will give another warning . What good is it to be a faithful supportive military when your leaders cant maintain the value of the currency you are paid in ?

True and think of this how long do you think Iran will last if Iraq revalues tomorrow and distributes the oil wealth to the people. What will a stronger dinar mean for the rial. I can tell you their influence is all economic. The us don’t want to control Iran they want them to stop their bs...

[screwball]

9 minutes ago, Botzwana said:

Think the ole RV will be here this year sir?

 

Well i I was told by someone years ago that Iran was ready, and the person that told my in email was seen in a photo with Donald trump this year and happens to sit in a position of know with a,large bank, so they could go anytime. As for Iraq not sure

[gregp]

2 hours ago, screwball said:

 

Well i I was told by someone years ago that Iran was ready, and the person that told my in email was seen in a photo with Donald trump this year and happens to sit in a position of know with a,large bank, so they could go anytime. As for Iraq not sure

 

Thanks SB.👍

[yota691]

The Iranian riyal falls to a record high of around 146,000 riyals to the dollar

 

The Iranian Rial and the US Dollar

Arab and international Economy News Baghdad The Iranian riyal continued to fall Wednesday, hitting a record low of about 146 thousand riyals to the dollar, as economic conditions deteriorated after the re-imposition of US sanctions on Tehran. "The dollar was offered at 146,500 riyals, compared to about 138,000 riyals on Tuesday," said Bonapast.com, which tracks exchange rates on the informal market. Bazar360.com pointed to a price of 146,500 riyals per dollar, while another website pointed to a price of 144 thousand. Views 9   Date Added 05/09/2018

[Butifldrm]

The Central Bank of Iran authorizes exchange offices to sell and buy foreign currency in cash

14:19 - 05/09/2018

0

 

  

Information / Baghdad ..

Iran's central bank on Wednesday announced new measures to sell and buy foreign currency in cash at official exchange offices.

"As part of the enforcement of the new government policy on the management and regulation of the exchange market, official exchange offices are allowed to buy and sell cash for foreign currency purchased and registered with the NIMA electronic system," the bank statement said.

"Exchange offices can buy foreign currency registered in the system and sell it at market price to buyers within the framework of the declared controls," the statement said. Ending / 25

http://www.almaalomah.com/2018/09/05/341645/

[yota691]

IRAN / IRAN Date: 2018 Sep / Sep 5 - GMT

 

 

 

The Central Bank of Iran authorizes exchange offices to sell and buy foreign currency in cash

The Central Bank of Iran announced new procedures for the sale and purchase of foreign currencies in cash at the official exchange offices.

The central bank said in a statement issued Wednesday that under the enforcement of the new government policy on the management and regulation of the exchange market, official exchange offices are allowed to buy and sell cash for foreign currency purchased and registered with the Nima electronic system.

The statement stressed that the exchange offices can buy foreign currency registered in the system mentioned and sold at market price to buyers within the controls announced.

[yota691]

Earthquake hits Iranian currency and hits record low

 

 Twilight News    
 2 hours ago

A new financial earthquake hit Iran on Wednesday, where the Iranian riyal fell to a record high of about 146,000 riyals to the dollar, two days after the rapid collapse, reflecting the extent of the crisis reached by the country. 
The Iranian riyal continued to fall to a record low of around 146,000 riyals to the dollar as economic conditions deteriorated in Iran, exchange websites said on Wednesday.

The dollar was quoted at 146,500 riyals, compared to 138,000 riyals on Tuesday, according to Bonapast.com, which tracks exchange rates on the informal market.

The site "Bazaar360.com" pointed out that the price of riyals amounted to 146 thousand and 500 against the dollar, while another website revealed that the price of the Iranian currency reached 144 thousand.

The Iranian riyal came Tuesday to 138 thousand against the US dollar, after it was exchanged, on Monday afternoon in the free market, one dollar for 130 thousand riyals.

The currency has been volatile for months because of the weak economy, financial difficulties faced by local banks and the heavy demand for the dollar from the Iranians as the economic situation deteriorates and the United States reinforces sanctions against Tehran.

The Iranians fear a shrinking of the country's exports of oil and other goods, as a result of Washington's withdrawal from the nuclear agreement in 2015 and the re-imposition of US sanctions on Tehran.

For months, the country has been witnessing popular protests against regime policies that have plunged the country into stifling economic crises that security has tried to suppress, but that has not prevented demonstrations from continuing.

" 
In an effort to contain the anger of the street, Leader Khamenei directed the government to work" day and night "to solve economic problems as the parliament increases pressure on President Hassan Rowhani.

"We need to be strong in the economic field," state television quoted Khamenei as saying during a meeting with Rohani and his government last Wednesday. "Officials have to work hard day and night to solve problems."

Deputies in the parliament dismissed the minister of economy and finance three days ago after they blamed him for the collapse of the local currency riyal and increased unemployment rates. A few weeks ago they sacked the minister of labor.

In addition to a measure to isolate the education minister, 70 deputies signed a memorandum aimed at isolating the minister of industry, mining and trade.

Horrific numbers 
and the official unemployment rate in Iran is 12 percent, with young people up to 25 percent in a country with 60 percent of its 80 million population under the age of 30. The riyal lost more than two-thirds of its value in a year.

Perhaps the worst is the way, with US officials saying they are seeking to cut Iran's oil exports to zero as a new round of sanctions begins in November.

Keywords: