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
yota691

Iran to delete 4 zeroes from the national currency

Recommended Posts

It means, if u have 100,000rials divide that by 100rials to get how much new toman u have ....multiply that by the rate which at this time we don't have clue how much

  • Like 1
  • Thanks 3
  • Upvote 1
  • Downvote 1

Share this post


Link to post
Share on other sites
Just now, markb57 said:

Thanks PP. See you at the dinner table.....😀

 

 

That would be a meal I would have no worries about paying for !!  :)

 

  Cheers, pp

  • Thanks 1
  • Haha 1

Share this post


Link to post
Share on other sites

Please keep in mind, that, if true, what has screwball been saying to go by Iran's law in calculating the rate, then the rate will be somewhere 2.38 provided that gold is still at 48dollars per gram...if the gold goes higher, the rate will be higher as well. Cheers

  • Like 1
  • Thanks 2

Share this post


Link to post
Share on other sites

Hey peeps, U guys wanna talk about rial here or over at the foreign currency thread...there's a thread there where we can discuss this...cheers 

  • Like 1

Share this post


Link to post
Share on other sites
2 minutes ago, navira said:

Please keep in mind, that, if true, what has screwball been saying to go by Iran's law in calculating the rate, then the rate will be somewhere 2.38 provided that gold is still at 48dollars per gram...if the gold goes higher, the rate will be higher as well. Cheers

2.38 per rial or tomans cousin or how that work lmao..i joined the fun lol!

Share this post


Link to post
Share on other sites
27 minutes ago, pokerplayer said:

 

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

Thank You,  I am using this as a dry run when the dinar hits. Going to see what the banks, feds, and media does.  

  • Like 1
  • Thanks 3
  • Upvote 1

Share this post


Link to post
Share on other sites

I dont have a ton of Rial but if it hits at constitution rate it would be a decent (small) BTC addition

  • Haha 1

Share this post


Link to post
Share on other sites
3 hours ago, navira said:

Hey peeps, U guys wanna talk about rial here or over at the foreign currency thread...there's a thread there where we can discuss this...

 

I’m Sure That They’d Be Happy To Discuss It In The LOP Section ! :o 

 

:D  :D  :D 

 

 

In "Tehran" .. Houses that we can not buy even after the deletion of the four zeros!


 Tuesday, August 13, 2019
 
67868714_499221660838585_1043137914273267712_n.jpg

 

Special: Translation - Mohammed Building:

 

House prices in the capital, Tehran, have jumped 5.91 percent in the last year, with the price per meter rising from 7 million toman to 3.13 million. The average price per square meter of buildings in Area 1 was 8.29 million Toms, in Area 2 it was 3.21 million Toms, and in Area 3 it was 7.23 million Toms, but in this report we have reached Worthy of reflection through researching the data of the property and real estate system. According to the Iranian newspaper (Verhekhtagan) close to the "moderate current."

According to research; 2,062 real estate transactions, out of 4,790, were sold in Tehran, in July, at prices exceeding one billion Toman. In other words, taking into account those prices, marital home loans and the purchase of housing for the first time, you can only buy several meters as a residence in the city of Tehran.

The research also found the sale of 25 properties in 14 neighborhoods in the city of Tehran, including; Between 50 - 98 million tons per meter.

Over the years, the idea of controlling this fictional price growth in the housing sector has been raised, but to no avail.

102-153716-tehran-hard-buy-home-any-pric

In this regard, economists attributed the rise in housing prices to the high volume of investment demand from the rich; Although they are convinced of the role of the local economic situation in the rise in housing prices, they do not deny the role of speculative activities and stress the role of the government in controlling the turmoil through tax instruments.

Still, the government is preoccupied with making negative statements, as did the Housing Minister, who said after months of silence: "Don't buy houses; prices will fall."

But will government inaction lead to falling prices in the "housing sector" ?!

The price per meter 98 million Toman! 

According to Tehran real estate transactions, the average price per square meter of buildings, in the capital, last July, 13 million 351 thousand tons.

However, after examining the data of the property and real estate system, we found other data worth pondering, where research showed that the sale of 25 properties in the city of `` Tehran '' for 50 million tons per square meter, while the price per square meter for the properties of `` Falahi Zaafaraniya '', 98 million tons. In the second place in terms of high prices, the properties of the street "Flavshan North" and "Ewank"; worth 96 million toman per square meter.

The price ranges from 50 to 54 billion toman

The total matrimonial housing loan and the purchase of housing for the first time do not exceed 180 million toman, an amount that could help purchase several meters of buildings in Tehran.

13692018_888-e1565690094297.jpg

According to the data; the most expensive real estate price in "Tehran" was in the area of "Sa'adabad"; an area of 1281 meters, worth 54 billion tons, and the second was in the region of "Wulang"; an area of 515 meters, valued at 5.49 billion tons.

Commission of the real estate adviser ..

The sale and purchase of real estate in Iran does not follow proper and accurate pricing mechanisms. Also, given the problems of control systems and the lack of laws such as the creation of a file for each building, etc., many citizens (especially those who sell or buy real estate) suffer a problem. Pricing with a real estate consultant.

Thus, both sides of the deal are constantly skeptical of the tendency of the real estate adviser to either party at the expense of the other. So I wouldn't mind taking a look at the real estate advisors committee to find out about citizen's concerns about buying or selling real estate more accurately.

 

Looking at the statistics of Astartakkilid, which cleverly evaluates the commission commission based on a number of different indicators such as property value, geographic area, etc., it is clear that the highest commission was in the Iwank Street deal, where it received 282 million toman.

e84e067b-3781-4d69-8999-86a48f447de5-e15

link

  • Thanks 1
  • Haha 2
  • Upvote 1

Share this post


Link to post
Share on other sites
9 minutes ago, DinarThug said:

 

I’m Sure That They’d Be Happy To Discuss It In The LOP Section ! :o 

 

:D  :D  :D 

 

 

In "Tehran" .. Houses that we can not buy even after the deletion of the four zeros!


 Tuesday, August 13, 2019
 
67868714_499221660838585_1043137914273267712_n.jpg

 

Special: Translation - Mohammed Building:

 

House prices in the capital, Tehran, have jumped 5.91 percent in the last year, with the price per meter rising from 7 million toman to 3.13 million. The average price per square meter of buildings in Area 1 was 8.29 million Toms, in Area 2 it was 3.21 million Toms, and in Area 3 it was 7.23 million Toms, but in this report we have reached Worthy of reflection through researching the data of the property and real estate system. According to the Iranian newspaper (Verhekhtagan) close to the "moderate current."

According to research; 2,062 real estate transactions, out of 4,790, were sold in Tehran, in July, at prices exceeding one billion Toman. In other words, taking into account those prices, marital home loans and the purchase of housing for the first time, you can only buy several meters as a residence in the city of Tehran.

The research also found the sale of 25 properties in 14 neighborhoods in the city of Tehran, including; Between 50 - 98 million tons per meter.

Over the years, the idea of controlling this fictional price growth in the housing sector has been raised, but to no avail.

102-153716-tehran-hard-buy-home-any-pric

In this regard, economists attributed the rise in housing prices to the high volume of investment demand from the rich; Although they are convinced of the role of the local economic situation in the rise in housing prices, they do not deny the role of speculative activities and stress the role of the government in controlling the turmoil through tax instruments.

Still, the government is preoccupied with making negative statements, as did the Housing Minister, who said after months of silence: "Don't buy houses; prices will fall."

But will government inaction lead to falling prices in the "housing sector" ?!

The price per meter 98 million Toman! 

According to Tehran real estate transactions, the average price per square meter of buildings, in the capital, last July, 13 million 351 thousand tons.

However, after examining the data of the property and real estate system, we found other data worth pondering, where research showed that the sale of 25 properties in the city of `` Tehran '' for 50 million tons per square meter, while the price per square meter for the properties of `` Falahi Zaafaraniya '', 98 million tons. In the second place in terms of high prices, the properties of the street "Flavshan North" and "Ewank"; worth 96 million toman per square meter.

The price ranges from 50 to 54 billion toman

The total matrimonial housing loan and the purchase of housing for the first time do not exceed 180 million toman, an amount that could help purchase several meters of buildings in Tehran.

13692018_888-e1565690094297.jpg

According to the data; the most expensive real estate price in "Tehran" was in the area of "Sa'adabad"; an area of 1281 meters, worth 54 billion tons, and the second was in the region of "Wulang"; an area of 515 meters, valued at 5.49 billion tons.

Commission of the real estate adviser ..

The sale and purchase of real estate in Iran does not follow proper and accurate pricing mechanisms. Also, given the problems of control systems and the lack of laws such as the creation of a file for each building, etc., many citizens (especially those who sell or buy real estate) suffer a problem. Pricing with a real estate consultant.

Thus, both sides of the deal are constantly skeptical of the tendency of the real estate adviser to either party at the expense of the other. So I wouldn't mind taking a look at the real estate advisors committee to find out about citizen's concerns about buying or selling real estate more accurately.

 

Looking at the statistics of Astartakkilid, which cleverly evaluates the commission commission based on a number of different indicators such as property value, geographic area, etc., it is clear that the highest commission was in the Iwank Street deal, where it received 282 million toman.

e84e067b-3781-4d69-8999-86a48f447de5-e15

link

Deletion of zeroes or as most refer to as a lop.

.the same goes with the dinar where its been talked about for years n years. The lop is never a good idea because it doesn't solve anything financially...it will generate more costly price on the values of things like the properties n so on.

  • Thanks 1
  • Upvote 3

Share this post


Link to post
Share on other sites
9 minutes ago, navira said:

Deletion of zeroes or as most refer to as a lop.

.the same goes with the dinar where its been talked about for years n years. The lop is never a good idea because it doesn't solve anything financially...it will generate more costly price on the values of things like the properties n so on.

"The lop is never a good idea because it doesn't solve anything financially"

Even trade. It just makes counting money easier. But, then after a LOP, every toman earned from then on out will have a better value. Just like mexico did some years back. It was like 10,000 pesos to the dollar and then it became 10 for a dollar after the lop. Now its about 19 to the dollar. 

  • Thanks 2
  • Upvote 1

Share this post


Link to post
Share on other sites
29 minutes ago, jg1 said:

"The lop is never a good idea because it doesn't solve anything financially"

Even trade. It just makes counting money easier. But, then after a LOP, every toman earned from then on out will have a better value. Just like mexico did some years back. It was like 10,000 pesos to the dollar and then it became 10 for a dollar after the lop. Now its about 19 to the dollar. 

 

JG would you say then that the benefit of a lop is long term vision/goal rather than immediate? 

  • Thanks 1

Share this post


Link to post
Share on other sites
20 minutes ago, climber7 said:

 

JG would you say then that the benefit of a lop is long term vision/goal rather than immediate? 

From looking at what mexico did. Im thinking it helped them short and long term. Immediate benefit, is exchanging large zero bills for bills that had less zeros. Say, 10,000 pesos got you a bill that was 10. The new conversion was I give you $1.00  bill and I get 10 pesos. 

I believe the value dropped pretty quickly to 12 to the dollar. After the peso had dropped to 10,000 to the dollar people were pissed, but I think mexicans were pretty happy after that where it was pretty much a straight accross conversion. 

Of course now its dropped at times to 20 pesos to the dollar, not so good. 

  • Thanks 2
  • Upvote 1

Share this post


Link to post
Share on other sites
On 8/1/2019 at 4:47 AM, dinarham said:

  Forex  currency exchange  indicates n that  one iranian rial  is worth $42000 USD . 

NO go back and look it's 

USD
1 USD = 42,000.62 IRR
1 IRR = 0.0000238092 USD
  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites

It's not official until  Iranian parliament approve it first and god knows when they will. They might be like Iraq years and years before they do anything.😁

Edited by SONIA1
  • Like 1
  • Thanks 2
  • Haha 1
  • Upvote 1

Share this post


Link to post
Share on other sites
Just now, SONIA1 said:

It's not official until  Iranian parliament approve it first and god knows when they will.

They might be like Iraq years and years before they do anything.😁

 

Well we should know soon enough. I'm leaning towards it being made clear in the next few days at most.

 

  Cheers, pp

  • Like 1
  • Thanks 2
  • Upvote 1

Share this post


Link to post
Share on other sites
51 minutes ago, SONIA1 said:

It's not official until  Iranian parliament approve it first and god knows when they will. They might be like Iraq years and years before they do anything.😁

 

Go Sonia - Go Sonia ! :o 

 

Snap Nene Leakes GIF - Snap NeneLeakes YouGoGirl GIFs
 
:D  :D  :D 
  • Haha 2
  • Upvote 1

Share this post


Link to post
Share on other sites
53 minutes ago, SONIA1 said:

It's not official until  Iranian parliament approve it first and god knows when they will. They might be like Iraq years and years before they do anything.😁

 

Exactly ...................

 

IMHO (my opinion only ),  This whole thing/topic  smells like, more Insanian Propaganda, Deception and or Misinformation.

Too many bits and pieces that don't make economic and or political reality.

 

Just sayin'  ............. My opinion only. 

 

Hopefully for those holding Insanian currency this comes to fruition ...............  I am  :praying:  for you .................

Semper Fi:salute:

Go IQD RV

 

  • Like 1
  • Upvote 4

Share this post


Link to post
Share on other sites
7 hours ago, navira said:

Hey bro, let's go to the foreign currencies thread...i will show u the math

 

Can you link it up? I can’t find it. I want to see your math skillz  

Share this post


Link to post
Share on other sites
8 hours ago, navira said:

Hey bro, let's go to the foreign currencies thread...i will show u the math

 

19 minutes ago, ametad said:

Can you link it up? I can’t find it. I want to see your math skillz  

 

Prepare To Be Completely Dazzled ! :o 

 

Math Mathe GIF - Math Mathe Matematiikka GIFs
 
:D  :D  :D 
  • Haha 9
  • Upvote 1

Share this post


Link to post
Share on other sites

Come on BROS DO you really  think  Iran will RV and give you money ..

 

That's why they call it I-RAN= Meaning you have to run away when you hear Iran😂

Edited by SONIA1
  • Thanks 1
  • Haha 2

Share this post


Link to post
Share on other sites
29 minutes ago, SONIA1 said:

Come on BROS DO you really  think  Iran will RV and give you money ..

 

That's why they call it I-RAN= Meaning you have to run away when you hear Iran😂

Why do you think Iraq will give you money? How are these two country so different?

  • Thanks 1
  • Upvote 3
  • Downvote 1

Share this post


Link to post
Share on other sites
5 hours ago, psdon said:

NO go back and look it's 

USD
1 USD = 42,000.62 IRR
1 IRR = 0.0000238092 USD

   What I was trying to say was just the same only exactly the opposite

  • Upvote 1

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

  • Recently Browsing   0 members

    No registered users viewing this page.



  • Similar Content

    • By DWS112
      This is the history of the currency in Iran .. Why Tehran will delete the zeros from its banknotes?
      8/16/2019

       
      Mohammad Rehmanpour-Tehran
       
      For decades, governments of many countries have benefited from the benefits of deleting zeros from their local currencies, to facilitate their use among people, reduce printing costs, control inflation and strengthen the position of the local currency among countries.
      After rounds of negotiations over the years, the Iranian government approved a proposal by the central bank in January this year to remove the four zeros from the local currency, and the proposal was submitted to the Iranian parliament for approval.
       
      Since the reign of the Achaemenids to date, more than 50 different currency types have been used in Iran, such as the Achaemenid Drake, the Dirham, the Sassanian dinar, the Shah, the Abbasid Safavid, the Toman, and the Qajar Koran to the current rial and dinar.
       
      According to the first article of the banking monetary law adopted since 1972 in Iran, the official currency of the country is the Iranian rial, which was replaced by the Toman in the Pahlavi state in 1929 and continued to this day, where one riyal consists of one hundred dinars.
       
      Although the name of the currency has changed to the riyal, the Iranian people still call their currency "Toman" in their purchasing business. The use of the riyal name is limited to banks and official institutions in Iran.
       
      But according to the central bank's plan, the toman would become the official currency of Iran as an alternative to the rial. Four zeros will be deleted from the official currency.
       

       
      Toman Original currency

      The Toman will become the original currency of Iran, while the riyal remains the sub-currency, each 100 riyals constitute one toman.
      For its part, the Central Bank announced the start of the process of collecting used money and exchange of new money within 24 months after the approval of Parliament.
       
      "The value of the Iranian national currency has fallen by 3,500 times since 1971, and the exchange rate of the Iranian riyal against foreign currencies (the dollar) is 0.000008. In dollars. "
       
      He added that there are currently seven billion banknotes in the country, but the number will fall to three billion after the exchange of the riyal Altoman. This will facilitate trade and exchange between people and reduce the cost of printing money.
       
       Divergent views
      Opinions on the new plan were divided between loyal and opposition until the issue became controversial in Iran.
      In their view, it is more feasible at this stage for the government to focus on reforming the country's economic system and reducing inflation, which has reached 40%, while the economic growth rate is 5%.
       
      Similar experiences in other countries show that monetary change only achieves its objectives and desired results when economic stability is achieved. .
       
      On the other hand, supporters believe that the most important features of the plan is to give the currency its real value.
      The plan is characterized by reducing the size of banknotes and facilitate transactions and reduce the storage and maintenance space and save the banknotes better, and facilitate the process of carrying and transport, and reduce the psychological effects of inflation, and raise the currency between countries, and save time for people and banks at the same time, according to supporters .
       

       
       Inflation and other things

      says Ali religious Turkmen professor Tehran University and faculty member at Institute Studies and Research business in his speech to island "took this decision result continuous inflation years now which contributed zooms numbers."
       
      He pointed out that the basic elements of currency stability and control of inflation are not achieved when changing the currency and deleting zeros, Turkey has a similar experience in the deletion of six zeros from its currency in 2005, but the plan would not have benefited the Turkish economy without Turkey's involvement in the European market and attract head Foreign money and the correct management of the economy.
       
      He also said that this plan will not affect the purchasing power or people's property, and that the deletion of zeros will include money and goods at the same time, for example, the price of bread will become Tomanin instead of 20,000 riyals.
       
      Similarly, for foreign trade or foreign exchange transactions, prices will remain the same, and the purchasing power of foreign currencies will remain unchanged with the new toman, he said.
       
      In this sense, changing the currency and deleting its zeros is a double-edged sword for the Iranian economy. The success of the plan depends on the government's parallel economic reforms, to safely pass the thorny economic entitlement, otherwise it will sink into inflation again if it continues to deal with the old system and the same mentality four decades ago, observers say.
       
    • By yota691
      Economist: Iraq is not affected by the fall of the Toman because it deals with a basket of world currencies, including the dollar
      Economie 11:58 Last updated S homepage! 1208 Watch       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. "
×
×
  • Create New...

Important Information

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