Iran forex market

Iran government to allocate $3.4 billion to offset impact of removing subsidized foreign currency scheme

The government has allocated 1,000 trillion rials ($3.4b) to help compensate the elimination of subsidized foreign currency in the 2022-23 budget.

Macro Economy

Forex market shock temporary: Rouhani

Iranian President Hassan Rouhani says the return of foreign currency incomes will balance the foreign exchange market. The rial has hit rock bottom in the past month, collapsing even below the 190,000 rate it fell to in the wake of the US decision in 2018 to withdraw from the Iran nuclear deal and reimpose sanctions.

Financial Markets