Central Bank of Iran: We can not provide hard currency

[yota691]

IRAN / IRAN Date:

 

 

 

Discuss the latest developments in the situation of foreign currency in the presence of the Minister of Economy

                                                                                              A spokeswoman for the Economic Committee of the Islamic Shura Council, Zahraa Saeedi Mbarka, discussed the latest developments in the situation of hard currency in the country, in the presence of Economy Minister Massoud Karbasian and head of the Planning and Budget Organization Mohammad Baqar Nubakht.

The government spokesman reviewed during the meeting on Monday various government scenarios regarding the future revenues and the mechanism of organizing expenses and sources of budget.

The meeting also dealt with the creation of a secondary market for hard currency, the mechanism of supervision of currency prices and the measures studied in the field of foreign exchange.

She said the country was in a state of economic war and the enemies were trying to create trouble for Iran, but the government and parliament were trying to manage the economy properly.

Foreign Currency, Economic Committee of the Parliament, Nobkhet, Karpasian

[ChuckFinley]

Sending in the Wolfs.  

[Butifldrm]

Al-Abbadi's office responds to a report that international experts were in Baghdad to trace the money of pro-Iranian figures

BAGHDAD (Reuters) - Prime Minister Haider al-Abadi's office revealed the presence of an international team of experts in the capital Baghdad to trace the money of "pro" figures to Iran.

The spokesman for the office Saad al-Hadithi, in a press statement, "There are decisions

Issued by the Security Council in relation to the fight against terrorism and the prosecution of sources of funding, and Iraq is committed to these decisions, "asserting" the lack of a special team to follow up the funds of Iraqi figures in power. "

He added that "there is cooperation between the Iraqi government and the United Nations, in accordance with the Security Council resolutions on the prosecution of sources and sources of funding for terrorism and terrorists," noting that "these decisions include all States and not only Iraq, and is binding on all States to cooperate and coordination to provide Information to pursue the financing and sources of terrorist groups. "

In a report published Sunday, the London-based Arab newspaper reported that a team of foreign experts working in Iraq for months had been tracking the accounts of a number of "pro-Iranian" people, while noting that the team was working in cooperation with the Iraqi government. Finished (1)

https://www.iraqpressagency.com/?p=278128

 

[yota691]

 Date: 2018 Jul. 3 - GMT

 

Within days, Iran launches a secondary market for foreign exchange

 

Iran's economy and finance minister announced the launch of a secondary market for foreign exchange in the coming days.

"The secondary market will be launched on the Iranian capital market," Minister Masoud Karbasian told a parliamentary economic committee on Monday.

The Minister of Economy and Finance that there is no shortage of coverage of imports of goods, and the field of exports, but to calm the market must benefit from adequate control mechanisms.

[yota691]

Iran / Iran date: 2018 Jul / July 3 - GMT 12:58

 

 

 

The Iranian parliament is finalizing a project to suppor t the national economy to counter US measures

The Iranian parliament has completed the preparation of a project to "support the national economy in the face of America's hostile actions" and is due to begin its study on Wednesday.

The Fars news agency reported that the project, which includes 24 items, aims to counter America's aggressive measures, reduce the problems of the people, strengthen the national economy, achieve prosperity in the professions, provide basic needs and facilitate the country's executive affairs for one year. The highest of economic coordination between the three authorities, is extended for two years. 
The project will charge the government with the allocation of hard currency at preferential prices only for basic commodities, medicines and raw materials, and feed for poultry and livestock, while managing the needs of hard currency for other goods and services through the establishment of a special market in hard currency. The Central Bank, in cooperation with the Stock Exchange, Notify this law as a maximum.

The project consists of the Minister of Economic Affairs, the Governor of the Central Bank, the President of the Stock Exchange Organization, the Chairman of the Central Insurance Organization and the President of the National Development Fund, in addition to three consultants from the Economists. Of the opinion holders in the field of public economy, finance and cash and are chosen by virtue of the President of the Republic.

The project requires the government to make the necessary arrangements to prevent manipulation of the hard currency market, gold coins, permanent goods and the like, by collecting information and banking operations, money transfer and monitoring, and restrictions and regulatory policies, including double taxation by the Ministry of Economic and Financial Affairs and cooperation with the Central Bank.

The project also requires the government to place double taxes in addition to taxes on income, in order to prevent the achievement of profits not recognized in the market of hard currency and gold coins and cars and the like, and according to the powers and determination of the Council of Ministers.

[navira]

What if these guys revalue their currency, that would really be against all odds, haha....knowing these f***&&^^, they might just do that, lol. It is ok cause i got some, haha

[navira]

Hope yota brings the news today or tomorrow...cause they are about to launch the secondary foreign exchange rate in 48hrs..that is Friday from today

[navira]

https://financialtribune.com/articles/economy-business-and-markets/89203/countdown-to-secondary-foreign-exchange-trading

[6ly410]

interesting buddy indeed....

[blueskyline]

https://financialtribune.com/articles/economy-business-and-markets/89264/irans-secondary-forex-trade-starts-as-exchangers-remain.........

1. Economy
2. Business And Markets

Thursday, July 05, 2018

Iran's Secondary Forex Trade Starts as Exchangers Remain on Hold

Exchange shops are active and do their business in the area of foreign exchange hawalas but a decision about whether they can trade in physical currency will be announced at a later time

Seif noted that the secondary market would initially be used for the import of goods and services, but will later be tapped for other purposes

 

The long-expected secondary foreign exchange market officially commenced work while exchange bureaus remain barred from physical trading in hard currency. 

Governor of the Central Bank of Iran Valiollah Seif told reporters on Wednesday that the market has started trading at negotiated rates, but dismissed reports suggesting that exchange shops will also regain their former status from Saturday. 

"Exchange shops are active and do their business in the area of foreign exchange hawalas but a decision about whether they can trade in physical currency will be announced at a later time," Seif was quoted as saying by the official news agency IRNA. 

Asked what role exchangers would play in the newly-launched secondary market, Seif said moneychangers could act as intermediaries between exporters and importers.

 

[blueskyline]

" the market has started trading at negotiated rates ".......  "Seif noted that the secondary market would initially be used for the import of goods and services, but will later be tapped for other purposes " 

[blueskyline]

1 minute ago, blueskyline said:

" the market has started trading at negotiated rates ".......  "Seif noted that the secondary market would initially be used for the import of goods and services, but will later be tapped for other purposes " 

On this Secondary Market ,Iran is now using negotiated rates to import goods and services . This is all getting very interesting !

 

[blueskyline]

Did They Just Change" A " Rate on the Secondary Market ????  It sounds like it .... What Instrument are they using On this Secondary Market ???? The Rial is still all but Destroyed ...Secondary Market .................. Secondary Rate  ???? Secondary Currency ????

[navira]

BL, we will find out soon enough...i said it before..Iran(f**@^%%%)could change(revalue) their currency and they did just that, lol...we have no idea what the negotiated rate is yet...it'll come out soon...hope iraq will follow suit...these guys are brothers(what one does, the other will follow). 

[navira]

My second thought was...and i posted in the rumor section. Iran might be using iqd in their country because right now they cant do anything with their worthless currency due to economic sanctions imposed on them by the US...if this is ever the case, i bet iqd rate will increase in value...we wait n see

[blueskyline]

Navira . I have thoughts . I wont share too many of them too soon . But a few are  " What is this Secondary Market ? " Who Else is on this Market ? . Next . I dont think its the Physical Rial . To Negotiate anything you have to have something that is worth something . An Asset . They negotiated a Rate for something that has Value or is asset backed . And they Negotiated with Someone one or Several Entities that saw Value in what instrument they where negotiating a new rate for .

 

 

[blueskyline]

Thanks Everyone for posting....

[navira]

Funny they launched this secondary rate while the US is celebrating independence day, haha

[navira]

The project will charge the government with the allocation of hard currency at preferential prices only for basic commodities, medicines and raw materials, and feed for poultry and livestock, while managing the needs of hard currency for other goods andservices through the establishment of a special market in hard currency. The Central Bank, in cooperation with the Stock Exchange, Notify this law as a maximum....dont know what that hard currency it is referring to here

[mannie2g]

6 hours ago, blueskyline said:

Did They Just Change" A " Rate on the Secondary Market ????  It sounds like it .... What Instrument are they using On this Secondary Market ???? The Rial is still all but Destroyed ...Secondary Market .................. Secondary Rate  ???? Secondary Currency ????

I think Iran is going to adopt the Iraqi dinar as their currency 

[js214]

On ‎7‎/‎3‎/‎2018 at 1:06 PM, navira said:

What if these guys revalue their currency, that would really be against all odds, haha....knowing these f***&&^^, they might just do that, lol. It is ok cause i got some, haha

What if they announce they are going to use the Dinar as a way around sanctions? 

[pokerplayer]

6 hours ago, blueskyline said:

On this Secondary Market ,Iran is now using negotiated rates to import goods and services . This is all getting very interesting !

 

 

I am glad I did not dump mine now !! Boy would I have been upset LOL. Well I may still do that, but hopefully at a much higher exchange rate !!

 

  Just saying,   pp   💲

[pokerplayer]

6 hours ago, blueskyline said:

Did They Just Change" A " Rate on the Secondary Market ????  It sounds like it .... What Instrument are they using On this Secondary Market ???? The Rial is still all but Destroyed ...Secondary Market .................. Secondary Rate  ???? Secondary Currency ????

 

The Toman as the secondary rate ? They said that was something like 10:1 which is really no change. Just less wheelbarrows of cash to push around ??

 

   pp

[blueskyline]

2 hours ago, pokerplayer said:

 

The Toman as the secondary rate ? They said that was something like 10:1 which is really no change. Just less wheelbarrows of cash to push around ??

 

   pp

It may not be the Toman PP . But it is something that a rate was negotiated for . Much not shown yet 

[gregp]

2 hours ago, pokerplayer said:

 

The Toman as the secondary rate ? They said that was something like 10:1 which is really no change. Just less wheelbarrows of cash to push around ??

 

   pp

 

I’m starting to dislike wheelbarrows. 😂