Finance

The governor of the Central Bank of Iran says the re-imposition of US sanctions on the bank shows they are so desperate in finding a lever to pressure Iran.

Iranian Foreign Ministry Spokesman Abbas Mousavi says the new US sanctions against the Central Bank of Iran (CBI) are nothing new, but the same old bans in a new form.

US President Donald Trump says his administration has imposed further sanctions on Iran's central bank following last weekend's attacks on Saudi oil facilities.

Iran and Russia are going to link their banking networks, Russian ambassador to Iran has announced.

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati highlighted the ineffectiveness of US sanctions against the Islamic Republic and said Washington has failed in its campaign of maximum pressure on Tehran.

Iranian President Hassan Rouhani has sent a single-urgent bill to the Parliament on the removal of four zeros from the country’s national currency, rial, and change the official currency to the more common one toman.

An executive directive issued by Iran’s First Vice-President Eshaq Jahangiri has formally legalized cryptocurrency mining in the country, although the use of digital currencies in the Iranian banks or for domestic trade will be still prohibited.

The government of Iranian President Hassan Rouhani approved on Wednesday a plan to lop off four zeros from the country’s national currency in a bid to help the Iranian rial regain its value in the face of the US sanctions.

Iran says Bitcoin and other cryptocurrency miners will be provided with three-phased timers which switch off during peak hours of electricity consumption.

A senior Iranian lawmaker has unveiled plans to free the country’s budget in the coming year from the share of petrodollars.

The Iranian currency rial has, in recent weeks, has recouped some of the losses it endured in the wake of the US sanctions, and is now traded at the highest value since mid-February in a market that Central Bank Governor, Abdolnaser Hemmati, says has stabilised.

Chinese cryptocurrency miners have officially requested to set up shop in Iran, taking advantage of cheap energy to power and cool their electricity-intensive servers.

The financial channel that the European parties to the 2015 Iran nuclear deal have set up to maintain trade with Iran, known as INSTEX, would be pretty useless if it does not supply Iran with its petrodollars, the country’s oil minister has said.

It is illegal in Iran to use the subsidized electricity available to the industrial businesses for running cryptocurrency mining machines, Parliament Speaker Ali Larijani announced.

The governor of the Central Bank of Iran (CBI) says the country has plans to work independently from the European Instrument in Support of Trade Exchanges (INSTEX), which has so far failed to help Iran reap the benefits of the Iran nuclear deal in the face of the US bans.

An Iranian energy official has warned the people producing Bitcoins and other digital currencies in the country that they are going to be detected and face a power cut.

Ahmad Tavakoli, a member of Iran’s Expediency Council, says the country’s ratification of the bills required for taking Iran out of the FATF blacklist depends on the US president’s behaviours, and thus the Council has postponed reviewing the bills until a ripe time.

The Financial Action Task Force (FATF) said Iran had until October to meet international standards against money-laundering and terror financing.

Vice Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Pedram Soltani on Thursday revealed the start of activity of China’s Bank of Kunlun in the Islamic Republic of Iran.

Travel agencies taking tours to Iran have been exempted from paying Value-Added Tax (VAT) upon the order of First Vice President Es’haq Jahangiri in a bid to increase the number of foreign tourists visiting the country.

The unveiling of a new system during the recent International Exchange, Bank and Insurance Fair (IRAN FINEX) in Tehran has aroused speculations that Iran might be planning to legalize Bitcoin as a legal currency in a bid to survive the new round of US bans.

The Brazilian ambassador to Iran says the US’ anti-Iran sanctions are cowardly and, if necessary, Tehran can count on Brazil in this regard.

Iran’s special financial channel for trade with European countries under the US sanctions known as SATMA, and its European counterpart INSTEX are ready to do their first transaction in coordination with banks of the two sides.

Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said enemies have hatched secret plots to hit the country’s foreign exchange market, calling for more efforts to foil the conspiracies.

As trading platforms such as MT4 webtrader surfaced in the early 2000s, forex trading has taken a whole new turn. There have been significant changes to the forex sector all that has been attributed to advancements in technology and particularly in mobile trading technology.