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Stock Market / Finance in Iran

  • US sanctions prevent Iranian banks, businesses from carrying out global transactions in dollars

    IRAN, 2016/08/30 Iran and South Korea are to start trading in euros, legally circumventing US sanctions on dollar transactions with Tehran, a senior official announced Friday. Next months of talks with Washington, at the urging of Iran, Seoul will "with US approval... convert South Korean won to euros without any direct intervention of dollars", Deputy Foreign Minister Hamid Baedinejad said on his Instagram page.
  • Huge fluctuations in Iran's currency, Exchange markets

    IRAN, 2015/03/18 As the current Iranian fiscal year is coming to a close and domestic needs for the U.S. dollar is at its peak point, the country’s currency and Tehran Stock Exchange indexes was strengthening until March16, but plunged again on Tuesday. Each USD sold below 33,000 rials March 16, about 3,000 rials less than last month. However, the rial dropped in price by 2.6 % on Tuesday again. Rial strengthening against the dollar was completely an unexpected situation because on Iranian New Year’s Eve millions travel abroad, mostly to Turkey to mark the Nowruz holidays.
  • Iranian government submitted the $293-billion budget bill to Parliament on Dec.7.

    IRAN, 2014/12/15 Former director general of the National Iranian Oil Co. (NIOC), the entity that is responsible for exporting the country's oil, says setting Iran's next year budget based on $72/barrel is "so high" and "unrealistic". Iranian government submitted the $293-billion budget bill to Parliament on Dec.7. The budget of funding for running the government is $93.7 billion. The reliance of next fiscal year's funding for running the government budget on oil revenues was reduced from the current 45 percent to 31.5 percent. The government expected to export 1.3 mbpd of crude oil and condensate at $72/barrel during next fiscal year, unchanged in volume, but decreased by 28 percent in value compared to the current budget law.
  • Iran’s annual tax income seen to hit $18.1b

    IRAN, 2013/07/20 Iran’s tax revenues are forecasted to all to 450.8 trillion rials (about $18.1 billion) in the current Iranian schedule year, which began on March 21, up 35 % year on year, Iran’s Tax Affairs Organization director said on Wednesday. Price-added tax incomes account for a large share of the rise in tax revenues IRNA quoted Ali Askari as saying. Price-added tax incomes and charges are forecasted to hit 190 trillion rials, he noted. Iran gained as much as 280 trillion rials (some $11.3 billion) in tax incomes in the completed schedule year.
  • Iran’s rial loses half of its value against dollar

    IRAN, 2013/07/07  Iran's central bank on Saturday drastically devalued the national currency's fixed subsidised rate against the dollar, as the Islamic republic struggles to shore up its faltering economy. The rial has lost additional than two thirds of its price on the open market since early 2012, at the same time as the United States and the European Union imposed harsh economic sanctions curbing Iran's ability to export oil and conduct financial transactions. The central bank on Saturday was selling one US dollar for 24,779 rials at the subsidised rate available only to select importers to procure basic commodities and medicine, according to the bank's website at http://cbi.ir