The latest news and views about the economy of Iran
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A senior Iranian official says the Turkish economy's dependence on foreign capital is to blame for a drop in the value of its currency.
Iran’s foreign ministry has condemned the US sanctions against the Iranian bank chief, saying that the government and Central Bank of Iran reserve the right to adopt all legal and political solutions to counter the US Treasury Department’s move.
Mohammad Javad Larijani, a senior and influential politician, says the Iranian government must prepare itself for a full-scale economic war waged by the US.
A political commentator says Washington’s pullout from the Iran nuclear deal and re-imposing sanctions were basically aimed at cutting back Tehran’s influence in the Middle East.
Europe is seeking to open up a banking channel to allow conduction of transactions with Iran, as part of measures to protect European companies doing business in Iran against Washington’s move to re-impose anti-Tehran sanctions, an Iranian official said.
As part of its plans to control the ongoing crisis in the country’s forex market, the Iranian government has restricted the amount of foreign currency allocated to Iranian tourists travelling abroad.
The central bank of Iran dismissed concerns about the negative consequences of the US withdrawal from the 2015 nuclear deal, saying it has already devised plans to prevent any harm to the country’s banking system and to satisfy demands for hard currency.
Iranian President Hassan Rouhani has defended his government’s plan to unify official and free market exchange rates for the Iranian currency rial against the US dollar, saying it foiled a plot hatched by Washington to foment economic instability in Iran.
The Iranian government has decided to replace the US dollar with euro in its international transactions in a move to prevent the greenback’s fluctuations from negatively affecting the Iranian economy.
The Governor of Iran’s Central Bank Valiollah Seif says the government eyes replacing the US dollar with the euro in its international transactions and the idea has been welcomed by the Leader Ayatollah Khamenei.