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Iran Unveils New Policies to Restore Calm to Forex Market

By
IFP Editorial Staff
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Speaking in a live interview with the state TV Sunday night, Hemmati said according to the new policy, hard currency will be made available at a subsidized rate of 42,000 against the US dollar for purchases of basic and essential goods and medicine.

The governor said a secondary currency market will be launched, which gives importers of non-essential goods access to hard currency brought home by the nation’s exporters, including petrochemical, gas and oil companies.

The exchange rates in this market will be determined according to the supply and demand rule, he said, adding that this rate will govern the whole currency market as it will cover most of the nation’s need for currency.

“The central bank will try not to interfere in setting the price of currencies, which will be determined by supply and demand,” he said.

Hemmati said ordinary people who need currency for travelling abroad or other needs could purchase foreign currencies from foreign exchange offices at a price close to the secondary market rates.

The government on Sunday lifted a ban on the sale of foreign currency at floating rates, allowing exchange offices to sell at unofficial market rates for purposes such as overseas travel after a three-month hiatus.

That reverses the decision in April to ban trading currency outside the official rate of 42,000 rials to the dollar.

 

People Need Not to Worry

The currency package has been agreed upon by the three branches of power and economic experts, Hemmati said, expressing hope it could bring about a change in the country’s economy.

“The country’s currency balance is positive and we face no economic problems. This is a good time for opening the [secondary] market,” he said.

The CBI governor said the plan reflected Iran’s self-confidence in the face of the looming US sanctions.

“This shows our power. The same day you (the US) impose sanctions, we open our economy for the first time since the 1979 Revolution. We have no problems, so why should our people be worried?” Hemmati said.

The US pulled out of the 2015 nuclear deal in May, and re-imposed the first series of its anti-Iran sanctions on August 6 to escalate pressure on the country to force negotiations on a new deal.

The US is also working to pushing the world to cut trade with Iran and stop purchasing the country’s oil.

The first batch of sanctions on Iran’s automotive and metal sectors, gold trade, aviation industry and other fields snapped back on Monday.

 

Several Officials Arrested in Fight against Disruption of Economy

Some believe people’s fear of the return of sanctions has pushed them to sell their reserves of national currency, leading rial to slide to record lows.

A dramatic decline in the value of rial has soared the prices of imported consumer goods and depressed some markets in the past few months.

Last week, the value of rial against the US dollar passed 100,000 in the free market, prompting the government, judiciary and the parliament to take immediate measures to stop the plunge in the value of rial.

The Judiciary has announced 45 people have been arrested on economic charges in recent days.

On Sunday the Judiciary said it has arrested a further seven people, including the former deputy governor of central bank, Ahmad Araqchi.

Araqchi was dismissed by Hemmati on Saturday from his position as deputy head for currency affairs.

Meanwhile, Iranian President Hassan Rouhani has been summoned to the Parliament to respond to questions about the Iranian economy.

Rouhani is also scheduled to appear on the state TV Monday night to talk about foreign policy and economic issues.

 

Market’s Positive Reaction

The policies introduced by Hemmati were warmly welcomed by the market on Monday, leading to a considerable decrease in the price of gold coin, US dollar and euro, among others.

Gold coin used to be sold at nearly IRR 41 million, but has now dropped to IRR 33 million. The US Dollar had also reached IRR 115,000 but is now traded at IRR 90000 in the free market.

Shorty after Hemmati’s remarks, forex dealers rushed to the markets in Tehran to sell their foreign currencies as they feared the rates would soon drop.

Experts believe the prices will continue to go down in coming days despite the imposition of the first series of US sanctions on Iran.

 

Iran Sympathizes with Indonesia over Deadly Quake

By
IFP Editorial Staff
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In a Monday statement, Qassemi offered sympathy to the Indonesian people and government and families of the victims of the tragic incident.

A powerful earthquake struck the Indonesian tourist island of Lombok, killing at least 91 people and more than 200 people injured. Thousands of homes and buildings were damaged.

Authorities said Monday that rescuers still hadn’t reached some hard-hit areas and the death toll could climb.

The quake, measured at a magnitude of 7.0 by Indonesian authorities, struck early Sunday evening at a depth of 10.5 kilometers in the northern part of Lombok.

Iran’s Beauties in Photos: Anzali Lagoon

By
IFP Editorial Staff
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With an area of about 20,000 hectares, the lagoon receives many birds coming to Iran from neighbouring countries each year.

Anzali lagoon is not comparable with any other Iranian wetland due to its geographical location and also its high humidity and water quality. There are several small islands in this coastal liman.

Here are ILNA’s photos of the beautiful tourist attraction:

Arab Pilgrims Exchanging Currencies in Iranian Streets

By
IFP Editorial Staff
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Qom is a hot destination for religious tourism as it hosts the shrine of Hazrat Fatima Masumeh (AS), a sister of Imam Reza, the eighth Shiite Imam.

Each year, the city receives millions of pilgrims from Iran and neighbouring countries, particularly Iraq.

Amid the ongoing forex crisis in Iran, street markets have been formed at the streets surrounding the shrine in recent months, where Arab pilgrims carrying Iraqi dinar or US dollar exchange their currencies for rial.

The exchange offices were closed in April after the government implemented a plan to unify official and free-market exchange rates for the rial in favour of a single rate set at 42,000 against the US dollar.

The government took the decision to stop the wild exchange rate fluctuations and prevent the national currency from declining further to no avail.

The following are ISNA’s photos of the street market in Qom:

A Look at Iranian Newspaper Front Pages on August 6

By
IFP Editorial Staff
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A Look at Iranian Newspaper Front Pages on November 19

Newspapers today widely covered the delivery of five ATR passenger planes to Iran, which landed in Tehran one day before the re-imposition of the first series of US sanctions on the Islamic Republic.

Also a top story was the US sanctions, the first batch of which is to be re-imposed on Iran today and will focus on Iran’s automotive and metal sectors, gold trade, aviation industry and other fields.

President Hassan Rouhani’s decision to appear in the Parliament to respond to the lawmakers’ questions also received great coverage. Rouhani says he plans to reveal truths behind the ongoing economic crisis during his speech at the Parliament.

Reports on a possible historic meeting between President Rouhani and his American counterpart Donald Trump were among other top stories today.

The above issues, as well as many more, are highlighted in the following headlines and top stories:

 

19 Dey:

1- Judiciary Chief: Self-Proclaimed Advocates of Human Rights Supporting Rioters in Iran

A Look at Iranian Newspaper Front Pages on August 6

 

Abrar:

1- Trump: Meeting with Iranian Officials Depends on Them

A Look at Iranian Newspaper Front Pages on August 6

 

Aftab-e Yazd:

1- The Half-Dead JCPOA Still Has Benefits for Iran: 5 New ATR Planes Land in Tehran

2- US Insists on Arranging Meeting between Trump, Rouhani

A Look at Iranian Newspaper Front Pages on August 6

 

Ebtekar:

1- Return of US Sanctions: Frist Round of Secondary Sanctions to Be Re-Imposed Today

A Look at Iranian Newspaper Front Pages on August 6

 

Etemad:

1- Ex-President Khatami: Those Seeking Regime Change Won’t Succeed as Long as Reformism Alive

  • Fanning Flames of Protests, Weakening Gov’t Will Lead to Chaos
  • Chaos Can Lead to Dictatorship that May Result in Iran’s Disintegration

A Look at Iranian Newspaper Front Pages on August 6

 

Ettela’at:

1- Roads Minister: Delivery of 5 ATR Planes Shows Europe’s Commitment to JCPOA

2- Tens of Thousands of Israelis Hold Rally against “Jewish Nation-State” Racist Law

A Look at Iranian Newspaper Front Pages on August 6

 

Iran:

1- Iranian Cities Falling Victim to Hour al-Azim Wetland’s Fire

A Look at Iranian Newspaper Front Pages on August 6

 

Javan:

1- Assassination Attempt on Anti-US President Using Drone

2- BBC’s New Approach towards Iran Developments

  • Supporting Trump, Receiving Money from Joint ISIS Fund

A Look at Iranian Newspaper Front Pages on August 6

 

Kayhan:

1- War in Portland Streets: Supporters, Opponents of Trump Clash with Each Other

A Look at Iranian Newspaper Front Pages on August 6

 

Sazandegi:

1- Rouhani: I’ll Tell the Truths

  • President Told Larijani He’ll Appear before Parliament

2- Ahmadinejad Calls for Protest Gathering against Rouhani Administration

A Look at Iranian Newspaper Front Pages on August 6

 

Shargh:

1- Trump-Rouhani Meeting, Maybe in New York

A Look at Iranian Newspaper Front Pages on August 6

 

Tejarat:

1- Market Hails New Forex Package Offered by Central Bank

A Look at Iranian Newspaper Front Pages on August 6

 

Vatan-e Emrooz:

1- Amir-Abdollahian: Threat of War to Get More Serious If Missiles Unable to Hit Tel Aviv

A Look at Iranian Newspaper Front Pages on August 6

Rouhani to Appear before Parliament to Reveal “Truths” behind Economic Crisis

By
IFP Editorial Staff
-

In a letter to Parliament Speaker Ali Larijani on Sunday, Rouhani said he will respond to the MPs’ questions, even though the lawmakers’ move to summon him was neither “within the framework of the Constitution” nor made “in appropriate time and conditions”.

“However, to prevent divisions among branches of power and respect the parliament, God willing, I will come to the parliament in due time and will respond to questions,” he said in the letter posted on the president’s website.

Eighty members of the Iranian parliament tabled a motion in an open session on August 1 to question Rouhani about his administration’s economic policies and its response to the country’s economic hardships.

The lawmakers are unhappy about the government’s economic performance and demand explanations, particularly about the high rate of unemployment and a sharp drop in the Iranian rial’s value against foreign currencies.

The president said he could use the chance to let Iranian people know about “some truths”.

“This could be a good opportunity to talk about some truths with our dear people, who are the real owners of the country and our legitimacy comes from their votes,” he said.

Iran Says Calls for Protest Rallies Orchestrated from Outside

By
IFP Media Wire
-

Interior Ministry spokesman, Salman Samani, said on Sunday that the bulk of calls for protest rallies in Iran over the past month had originated from outside the country.

Elaborating about the role of social media campaigns for illegal demonstrations in Iran, Samani said, “Those parties circulating such messages expected to win approval in many cities, but in practice, we saw limited cases of demonstrations.”

The official added that only a handful of people were influenced by such propaganda and attended unlawful protests in a few cities.

Investigations reveal that the “main elements provoking” unrest in Iran are mostly individuals that do not care about the economic problems and only “seek to foment chaos by taking advantage of the conditions regarding the price hikes and livelihood problems,” Samani said.

The Iranian official gave an assurance that efforts were underway to control the protests and handle the situation with “minimum tensions and through dialogue,” adding that authorities were “determined to resolve people’s livelihood problems and ensure economic stability.”

The comments came after limited protests were held in the Iranian cities of Shiraz, Isfahan, Ahvaz and Karaj over the past few days against economic conditions. The protests have been largely described as peaceful without any major instance of violence.

Iranians are anxious over the collapse of the rial currency, which has lost nearly two-thirds of its value in six months, resulting in the rise of commodity prices.

Authorities have acknowledged that worries are legitimate, but the biggest concern of many Iranians is that the protests might be hijacked by malicious groups inside and outside the country and turn violent.

In January, several Iranian cities were scenes of protests, but they were hijacked by elements of the MKO terrorist organization. Unknown elements opened fire at protesters and killed several people.

Iranian officials have said the voice of protesters needs to be heard. However, they have warned of efforts by enemies to manipulate the legitimate demands of the people and create mayhem.

The Islamic Republic is additionally wary of Washington’s plots under the administration of President Donald Trump to stir unrest in the country after the United States withdrew from the Iran nuclear deal, known as the JCPOA. The US plan to impose new sanctions on Iran is another matter of concern.

Iran’s new central bank governor has promised fresh currency policies in the coming days, and the state has launched an unprecedented transparency push that has seen the arrest of dozens of profiteers.

“Iran Must Arrange Meeting between Trump, Gen. Soleimani”

By
IFP Editorial Staff
-

In a recent opinion piece published in the E’temad daily newspaper, Mousavian has talked about the moves that President Rouhani can do in response to his American counterpart’s call for dialogue. What follows is the full text of his piece:

Trump in a recent joint press conference with Italian prime minister referred to the ongoing tension between Iran and the US, and said, “I’m ready to meet anytime they want to. No preconditions. It would be good for the country, good for them, and good for the world. I don’t do that from strength or weakness, but I just think it’s an appropriate thing to do.”

However, shortly after Trump’s remarks about unconditional talks with Tehran, US Secretary of State Mike Pompeo once again listed some preconditions for holding talks with Iran. He had earlier set 12 conditions for improving ties with Iran, and had made the harshest remarks against Iran in a gathering of Iranians living in the United States.

Under such circumstances, if I were in President Rouhani’s shoes, with the decision of the Supreme National Security Council and the approval of the Leader of the Islamic Republic of Iran, in response to President Trump’s offer, I would ask him to make a visit to Tehran and would organise a tour of Iran for him before sitting down to negotiate. This tour could include:

  • Meeting with families of war martyrs, victims of Saddam Hussein’s chemical weapons, the families of victims of the Iran Air passenger plane shot down over the Persian Gulf [by a US warship], and a visit to the Museum of War to get familiar with Iran’s resistance culture so that he would closely know the consequences of the US policy after the Islamic Revolution in Iran, and understand the cause of Iran’s distrust.
  • I would ask Major General Soleimani to explain to him the realities of the region and provide documents and evidence to prove that the United States has played an important role in the destabilisation of the region by supporting the terrorist groups. He can also give Trump a complete and documented file to make it clear for him which country has been the source of instability in the region. As Trump is after the withdrawal of US troops from Afghanistan and Iraq, General Soleimani can show him the dignified ways of withdrawal from quagmires in Afghanistan and Iraq and introduce ways to resolve crises in the region peacefully.
  • I would organise a visit to Iran’s nuclear facilities and would ask Ali Akbar Salehi, head of Iran’s Atomic Energy Organization, to provide Trump with a brief history of Iran’s nuclear activities before and after the Revolution, along with documents to ensure him of the peaceful nature of Iran’s nuclear activities and the double standards of the United States before and after the Revolution.
  • I would put evidence and documents on the table showing that US sanctions were against the Iranian people to make him understand that their support for the Iranian people is completely in conflict with their policies, and that the Iranian people are the real victims of the sanctions.
  • I would organise a visit for him to ancient sites of Iranian culture and history so that he can closely understand he is facing a nation with 7,000 years of civilisation, not a country whose history is less than the age of Trump.
  • At the end, I would show him the three agreements between Iran and the United States including US-Iran 1955 Treaty of Amity, the 1975 Algiers Agreement, and the 2015 nuclear deal (JCPOA) as a basis for further negotiations.

If Trump rejects the invitation, the ball will be in his court; because Trump wants to convince public opinion that he is willing to hold diplomatic talks to resolve problems and it is the Islamic Republic that is refusing. However, if Trump accepts to visit Tehran, part of his wishes will be met. He wants to be known as a history maker. Simply making a trip to Iran will provide him with such a plan and there will be no cost for Tehran.

Eventually, only one of two following things could happen – whether eye-catching progress can be made during his trip or not. If not, Trump would have taken the risk of travel and will return empty-handed while Tehran would have lost nothing. On the other hand, a visit by the US President to the Iranian capital to resolve their problems would retain dignity and authority for Iran.

Europe’s Proposal on Iran Deal “A Step Forward, but Not Enough”

By
IFP Editorial Staff
-

After US President Donald Trump withdrew from the Iran nuclear deal on May 8, 2018, and ordered American government bodies, including the Treasury Department, to reinstate sanctions on Iran, they planned to bring back sanctions in two phases: one in 90 days and another in 180 days. The first round of sanctions will be slapped on August 6, 2018. According to US authorities, the sanctions include a ban on Iran’s access to the greenback, gold trade and purchasing certain metals such as aluminium and steel.

Majid Takht-e Ravanchi, the deputy chief of staff of the president for political affairs has, in an interview with Tasnim News Agency, weighed in on the issue.

He said Iran and the European signatories to the JCPOA had predicted that the US might pull out of the deal, and hence Iran was in contact with the Europeans to settle the issue.

“We both had a common understanding that the US may withdraw from the JCPOA, but not the way it did; rather, [we thought it would pull out] using other methods,” he said.

The Europeans had told Iran that they would work on ways of maintaining the Iran nuclear deal if Washington withdrew from the agreement, he said.

After the US’ withdrawal, said the official, the other signatories to the deal, including the three European countries as well as Russia and China, were given the opportunity to work on the issue.

“President [Hassan Rouhani] also said Iran would give them the chance to do something to make up for the losses the Iran is suffering as a result of the United States’ withdrawal,” Takht-e Ravanchi said.

He underlined that Iran’s expert talks with the Europeans are ongoing, and the reason no news is announced in that regard is that the negotiations have produced no tangible results so far.

“First, the talks should bear fruit, then the results will be announced,” he noted.

The official underlined Iran is also holding consultations with Beijing and Moscow in parallel with the negotiations with Europe.

Elsewhere in his remarks, Takht-e Ravanchi described the package of proposals presented to Iran by the Europeans as “a step forward,” but added Iran believes the move is not enough and more needs to be done

“I believe a time will come when we will be able to discuss the details of the package, and I think everything will become clear at the end of the day,” he said.

He underscored that details should be discussed in order to handle issues.

“In order to move forward, we should get into details. When sanctions are imposed on our oil [sales], we should know how we can sell oil,” he said.

He said Iran and Europe are pressing ahead with the talks and “we see that the other parties are serious in their work.”

The official further touched upon the reinstatement of US sanctions on Iran in two phases, and said one round of sanctions applies to items such as currency, automobiles, gold and things like that, and the second round goes for banks, oil, and the like.

“We have told the Europeans that we should get things settled before the sanctions prove effective,” he said.

He underlined that the Europeans should adopt measures before sanctions are slapped or their actions will be of no use.

“What good are talks if sanctions are imposed and the measures they adopt to compensate [for the consequences of the sanctions] are not effective?” he said.

The official said he believes the Europeans will take some action before the first round of sanctions go into effect on August 8.

Pakistan’s Imran Khan Eager to Visit Iran

By
IFP Editorial Staff
-

“I’m eager to visit Iran and see this country’s beautiful historic sites,” he said in a Saturday meeting with Iran’s ambassador to Pakistan Mehdi Honardoost who conveyed President Hassan Rouhani’s message to Imran Khan on his electoral success in the parliamentary elections.

Imran Khan, the leader of PTI party, thanked the Iranian ambassador for the congratulatory message and described Iran as a trustworthy friend of Pakistan, Tasnim News Agency reported.

“We seek to create friendly and brotherly relations will all neighbouring countries, particularly Iran,” he said.

Imran Khan said his government will spare no chance to boost Pakistan’s economy, hence it will work towards promoting trade with Iran.

 

Ready to Mediate between Tehran and Riyadh

The cricketer-turned-politician hailed Iran’s efforts to promote peace and stability in the region, saying Pakistan understands Iran’s concerns regarding regional developments.

Imran Khan said Pakistan is ready to play a constructive role to mend fences between Iran and Saudi Arabia.

Tehran and Riyadh have been at loggerheads in recent years over a long list of differences, particularly their conflicting view on conflicts in Yemen and Syria, among others.

Last week, Imran Khan’s PTI party won Pakistan’s election. Based on the official result, PTI won 115 seats out of 272 seats in the National Assembly.

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