Dollar sinks against Iranian rial on hopes of deal in Vienna

TEHRAN -- The US dollar has hit a new low against the Iranian currency rial mainly on unconfirmed reports suggesting that Iran and major powers would reach a deal in the Austrian capital to revive an international deal on the country’s nuclear program, Press TV reported.

Is it a powerful dollar or a declining one?

Alarm sounding for U.S. economic collapse as Trump is insisting on trade deal with China

Nowadays, if a country exports one billion euro of its crude oil to a European country, the mentioned billion euro of revenue can be accessible and utilized in the world trade system only and only after its equal dollar-based value has been recognized by the U.S. otherwise the said revenue has no any value in the international markets’ transactions.

By staff and agency

Malaysia accepts Iran’s cryptocurrency proposal

Malaysian Prime Minister Mahathir Mohamad has accepted Iran’s proposal on using cryptocurrency as an alternative to the United States’ dollar.

Rouhani says Muslim world should get rid of dollar domination

TEHRAN – President Hassan Rouhani suggested on Thursday that the Muslim world should take measures to put an end to domination of the U.S. dollar and financial regime.

By staff and agency

Next EU chief backs reducing dependence on dollar in defiance of U.S. sanctions on Iran

Charles Michel, the next president of the European Council, has backed efforts to reducing role of the United States’ dollar and increasing the international role of the euro.

Setting dollar on fire would be attack on enemy’s weak point: civil defense chief 

TEHRAN – The commander of Iran’s Civil Defense Organization has said if Iranians set to fire dollar bills it would be a direct attack on the enemy’s weak point.

Iraq to import Iranian energy avoiding U.S. dollar: Iraqi official

TEHRAN- Iraq is close to finalize a deal for importing Iranian energy despite American sanctions by avoiding the U.S. dollar, an Iraqi official said.

Russia, Iran give up dollar in settlement payments, says ambassador

Moscow and Tehran have given up the dollar in settlement payments and plan to shift completely to national currencies, with euro to be used if there are no other options, Russia’s Ambassador to Iran Levan Dzhagaryan said in an interview with TASS.

‘Iran ditches dollar in transactions with several countries’

TEHRAN- Iran has made mutual monetary agreements with some countries on the way to abolish U.S. dollar in its financial transactions and the issue will be incrementally generalized to other countries in future,” the governor of the Central Bank of Iran (CBI) announced in a meeting with Iranian economists on Monday, IRNA reported.

EU plans to do all oil transactions with other states in euros: Iran

The European Union is going to ditch the US dollar and use its own currency in oil contracts worth 300 billion euros, an Iranian official said, quoting a European commissioner.

By Mahmood Khaghani in association with Chris Cook

Iran at the crossroad of 1398 budget

TEHRAN - A journalist called me the other day and requested my opinion with regard to the next Iranian year 1398 budget that it seems the government considers oil prices will be higher than 50 dollars per barrel. I, in turn, asked a Senior Research Fellow at University College London about his prediction with respect to oil market during 2019. He said: "As a wise man said, "It is difficult to make forecasts, especially about the future."

By Haniyeh Sadat Jafariyeh

Reactions to rial rally

Simultaneous with the decrease in foreign exchange rates and regain of rial, commencing as of Monday evening, other markets including gold, mobile phone and auto have shown a green light to the prices decline.

Use of dollar in trade declining, Zarif says

TEHRAN – Iranian Foreign Minister Mohammad Javad Zarif said on Tuesday that the use of dollar in trade is declining and this has been caused by the U.S. adoption of sanctions against other countries.

By Haniyeh Sadat Jafariyeh

After repeated record lows, rial recovers unexpectedly

Following government’s Saturday measure to grant authority to the Central Bank of Iran (CBI) to interfere in the foreign exchange market in defense of the rial, the Iranian currency started to regain incrementally.

By Mahmood Khaghani

EU, Iran clearing the way for business and trade

The news that Germany, France & UK are actively considering a “Clearing House” to facilitate Iran's global commerce is probably the most important development in financial & energy markets for many years.

Iran joins hand with Russia, Turkey to dump dollar in trade

TEHRAN – Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar on the three countries’ trade and economies, ILNA reported on Saturday quoting Central bank of Iran (CBI) Governor Abdolnaser Hemmati.

Iran, Iraq dump dollar in bilateral trade

TEHRAN- Chairman of Iran-Iraq Joint Chamber of Commerce Yahya Ale-Es’haq announced that Iran and Iraq have dumped dollar for rial, dinar and euro in their mutual financial transactions, Mehr news agency reported on Saturday.

‘Russia may ditch dollar in oil trade as it is too risky’

The U.S. dollar is not a reliable tool for payments in international trade, Russian Finance Minister Anton Siluanov told Russian media. Payments in national currencies might be used instead, he said.

By Haniyeh Sadat Jafariyeh

Currency rate policies & foreign trade

Iranian government, as top officials have announced, is on the process of renovating its foreign currency system via managing domestic foreign currency market, reigning the currency rates, improving cooperation with exchange shops, and reinforcing exports.

By Mahnaz Abdi

Tehran, Ankara moving to dump dollar in trade

Iran’s financial system has intensified its efforts to establish ties with a number of countries based on the national currencies, as the U.S. sanctions against the country have complicated transactions in dollars.

Iran replaces dollar with euro in financial reporting

TEHRAN- The Iranian cabinet on Wednesday ordered all state-run organizations and companies to replace U.S. dollar with euro in reporting their financial statements, IRNA reported.

By Mehrnoosh Aryanpour

Dollars for…donuts: when the craze for FX simply gets out of control

The other week’s slide in the rial to a new record low, posted as 56,800 per dollar, according to the Financial Tribune last week, shows just how maniacal the market’s thirst for hard currency has become. But instead of following the herd and asking, “where can I get some dollars to hoard?”, the better questions to ask are instead: