Imports of 8 new goods to receive foreign currency at official rate

TEHRAN- According to the latest announcement of the Iranian Ministry of Industry, Mining and Trade, the government will support imports of eight new goods via providing foreign currencies at official rate for them, Tasnim news agency reported on Saturday.

Judiciary: 53 more arrested over foreign currency market

TEHRAN – Tehran Prosecutor Abbas Jafari Dolatabadi has said that 53 more people have been arrested over the past 10 days on charges of disrupting the foreign currency market, ISNA reported on Tuesday.

Police summons 942 market disruptors

TEHRAN - Tehran police chief Hossein Rahimi announced on Sunday that 942 disruptors in coin and foreign currency markets have been summoned.

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.

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.

Foreign currency’s secondary market not disorganized: Larijani

TEHRAN – Majlis Speaker Ali Larijani said on Wednesday that the foreign currency’s secondary market is not disorganized and is under control, Tasnim reported.

Intelligence Ministry disbands foreign currency, gold smugglers

TEHRAN – The Iranian Intelligence Ministry has announced that it had arrested members of four groups involved in smuggling foreign currency and gold as well as forging foreign banknotes and gold coins.

18 arrested over vehicle import fraud, currency manipulation

TEHRAN – Judiciary spokesman Gholam-Hossein Mohseni-Eje'i said on Saturday that a total of 18 people have been arrested over vehicle import fraud and abuse of the official rate for foreign currencies, mainly dollar.

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:

By Haniyeh Sadat Jafariyeh

Taming the runaway forex market

When rial finished its four-month decline sliding to a record low of 60,000 rials against the dollar on Monday from 43,000 rials in early January, the administration eventually made the long-waited serious decision to curb the rampant foreign exchange market by unifying the official and open market exchange rates.

By Haniyeh Sadat Jafariyeh

Foreign currency jump rears ugly head in domestic production, exports

The new Iranian year, which began on March 21, has been named by Leader of Islamic Revolution Ayatollah Seyed Ali Khamenei as the year of “Support for Iranian Products”. In general, supporting national products is expected to improve the level of Iran’s exports, however, regarding the current conditions at domestic foreign exchange market, puts the idea under some disputations.

By Haniyeh Sadat Jafariyeh

Dollar in doldrums

Iranians have been dealing with an ever-increasing devaluation of the rial since the beginning of the present Iranian calendar (March 21, 2017) but the major and unexpected depreciation occurred almost a month ago, in mid-February, when is supposed to be the biggest crackdown on foreign exchanges in six years.