currency redenomination

Dollar tumbles in Iran over Trump defeat predictions

The American dollar has fallen by around a fifth against the Iranian rial as people flock to the markets to sell their currency savings amid fears that change of government in the United States elections might strengthen the rial.

Financial Markets

Dollar down in Iran in run-up to US votes

The Iranian rial has risen more than seven percent against the US dollar as investors keep betting on the result of the Tuesday presidential elections in the United States.

Financial Markets

Rial regains as Iran’s CBI puts brakes on dollar

A new wave of devaluation for Iran’s rial seems to have come to an end as the Central Bank of Iran (CBI) resumes rationing the US dollar while it dismantles price restrictions in two government-run exchange markets.

Financial Markets

Tehran Chamber of Commerce cautions against undesired currency redenomination results

The idea of removing zeros from the rial has been floated several times in Iran over the past years. This may come true during the two years remaining in President Hassan Ruhani’s tenure. His government drafted a bill to this effect and sent it to the Parliament on Wednesday to be debated.

Financial Markets

Toman: Iran government passes bill to slash four zeros from currency

Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value last year after the restoration of economic sanctions on Tehran in 2018.

Financial Markets

Toman instead of rial: Iran to cut four zeros from currency in two years

Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value in 2018 after the restoration of economic sanctions on Tehran in 2018.

Financial Markets

Featured

Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has appreciated the significant growth of Iranian private sector producers.

Supreme Leader hails growth of Iranian private sector

A senior official with the Ministry of Industry, Mine and Trade (MIMT) says private sector production accounts for some 23% of Iran’s total auto output.

Private sector responsible for 23% of Iran’s auto output

Iran Chamber of Commerce, Industries, Mines and Agriculture

Established in 1884, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) is a non-profit and non-governmental institution which aims at facilitating economic growth and development in the country. Iran Chamber tries to further coordinate the activities of the private sector. As an economic forum, representatives from both the government and the private sector attend Iran Chamber's sessions. Meanwhile the institution acts as an advisory body to the government, parliament and judiciary.

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