Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Iran to delete 4 zeroes from the national currency


yota691
 Share

Recommended Posts

On 7/31/2019 at 3:16 PM, fishing said:

Did not know Iraq deleted 3 zero from there currency in 2015!

People do not take sarcasm well around here. I gave you a greenie to offset it. Dont give up!👍 Anyone thats name is fishing cant be half bad. 

  • Thanks 1
  • Haha 1
  • Confused 1
  • Upvote 3
  • Downvote 1
Link to comment
Share on other sites

25 minutes ago, pokerplayer said:

Anyone see anything on the Riel with regards to the new rate and or about how yesterday went on the opening of the new exchange yet ?

 

 Cheers,  pp

Still waiting PP, havent read an article about this since 2 days ago. This is so strange...

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

18 minutes ago, pokerplayer said:

 

Thxs WMRV, was hoping that maybe I had just missed it.

 

  Cheers, pp

Hey pp, ETF is above 50...looking good for the exchange traded fund...Iam subscribed to irans economic financial ...will let you know asap...cheers

  • Thanks 7
Link to comment
Share on other sites

2 minutes ago, navira said:

Hey pp, ETF is above 50...looking good for the exchange traded fund...Iam subscribed to irans economic financial ...will let you know asap...cheers

 

Awesome navira, thank you very much ! Here's hoping we make out like bandits !!  :) 

 

  pp

  • Like 2
  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

Central Bank of Iran Insists on Export Revenue Repatriation in Foreign Currency

 
Central Bank of Iran Insists on Export Revenue Repatriation in Foreign Currency
Central Bank of Iran Insists on Export Revenue Repatriation in Foreign Currency

Governor of the Central Bank of Iran says the government is opposed to the repatriation of export earnings in rial as it would weaken the economy.

“It does not make sense to repatriate earnings in rial. When you export to a country, the earnings should return in the national currency of the importing country,” or any other major currency, he told state TV on Friday.

“When export earnings are returned in rial, it is akin to bleeding of the country, which gradually weakens the economy”. 

As far as the government is concerned, export in rial is tantamount to capital flight. Hemmati argued that returning export earnings in rial means goods manufactured in the country and the added value flows out of the country. 

Exporters to some neighboring countries especially Iraq and Afghanistan have always complained that their bills are paid by the importing companies in rial rather than foreign currency (not even in afghani or dinar) and therefore they should be exempt from currency repatriation rules. 

  • Thanks 2
Link to comment
Share on other sites

This was back in mid july before they announced August 12 as the launching date: The long-awaited regulated foreign exchange market is ready for launch but is waiting for the opportune inauguration time in order to have the best possible impact on the forex market, the CEO of the company overseeing the market said. 

“The timing for launching the market is crucial and we want a time when it would have the best effect on the currency market,” Mahmoud Shekasteband told Tejaratnews website. 

  • Thanks 4
Link to comment
Share on other sites

1 minute ago, navira said:

To those invested in rial, this is from Wikipedia..

2019, Iranian government ministers passed a bill the drop four zeros, as well as revalue 1 toman to equal 100 rials instead of the previous 10 rials.[18]

what that mean lol

  • Haha 2
  • Upvote 3
Link to comment
Share on other sites

2 hours ago, ChuckFinley said:

pp, can you let us know how Canada is going to treat this as far as taxes go?

 

You bet Chuck. Will let all the good folks here what is all involved Tax wise as well as what is required to actually cash in. Local bank manager is a friend so will ask what is required from outside folks ( USA ) as she might know or be able to find out.

 

  Cheers, pp

  • Thanks 2
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.