Iran Economy

The latest news and views about the economy of Iran

IFP Exclusive

Iranian MPs Push for Cabinet Reshuffle amid Devaluation of National Currency

IFP Editorial Staff -
A huge number of parliamentarians sent an open letter to President Hassan Rouhani calling on him to immediately reshuffle his Cabinet to control a dramatic decline in the value of rial that has depressed markets in recent days.  
Media Wire

Calm Restored to Bazaar of Tehran after “Guild-Related” Protests

IFP Media Wire -
The Secretary general of the Islamic Society of Tehran Guilds and Bazaar says calm has returned to the Grand Bazaar of Tehran after a few hours of guild-related protests earlier today.
IFP Exclusive

Iran Ready to Launch Joint Iranian-Syrian Bank

IFP Editorial Staff -
Governor of the Central Bank of Iran Valiollah Seif says Tehran is keen and prepared to launch a joint bank with Syria as part of its policy of expanding business ties with Damascus.
IFP Exclusive

Enemy Plotting to Exert Economic Pressure to Disappoint Iranians: Leader

IFP Editorial Staff -
The Leader of Iran’s Islamic Revolution Ayatollah Seyyed Ali Khamenei says the enemies’ major conspiracy is to put Iranian people under economic pressure to frustrate them.
IFP Exclusive

Iran President Issues Orders to Push Down Soaring Prices

IFP Editorial Staff -
Iran’s President Hassan Rouhani has ordered relevant organizations to adopt appropriate measures to push down the soaring prices of goods in the country.
IFP Exclusive

Iran, China to Use National Currencies in Trade Transactions

IFP Editorial Staff -
The Iranian minister of finance and economic affairs says Iran and China have agreed to use the national currencies of both countries in their trade transactions.
IFP Exclusive

Foreign Investment in Iran Soared by 49 Percent in 2017

IFP Editorial Staff -
The latest annual report of the United Nations Conference on Trade and Development said Iran has managed to attract over $5 billion in direct foreign investment, showing a 49 percent increase compared with 2016.
IFP Exclusive

“Drop in Lira’s Value Due to Turkish Economy’s Dependence on Foreign Assets”

IFP Editorial Staff -
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.
IFP Exclusive

“US Sanctions on Iran’s Bank Chief Break Int’l Rules”

IFP Editorial Staff -
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.
IFP Exclusive

“Iran Must Prepare Itself for All-Out Economic War”

IFP Editorial Staff -
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.
IFP Exclusive

“US Targeting Iran’s Achilles’ Heel to Curtail Its Regional Influence”

IFP Editorial Staff -
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.
IFP Exclusive

Europe to Open Channel to Facilitate Iran Banking Transactions: Official

IFP Editorial Staff -
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.
IFP Exclusive

Iran Limits Foreign Currency Allocated to Those Travelling Abroad

IFP Editorial Staff -
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.
Media Wire

US Exit from JCPOA Not to Cause Any Problem for Iran Economy: Central Bank

IFP Media Wire -
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.
IFP Exclusive

Unification of Forex Rates Pre-Emptive Response to US Plot: Iran

IFP Editorial Staff -
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.
IFP Exclusive

Iran Officially Replaces US Dollar with Euro in Int’l Transactions

IFP Editorial Staff -
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.
IFP Exclusive

Iran Leader Hails Idea of Replacing Dollar with Euro in Int’l Transactions

IFP Editorial Staff -
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.
IFP Exclusive

12 Arrested in Tehran over Illegal Currency Exchange

IFP Editorial Staff -
Tehran’s police chief says 12 unlicensed dealers accused of disrupting Iran’s currency market have been arrested on Tuesday, as part of measures to stabilise the rial that has been going down in recent weeks.
Media Wire

Iran Gov’t Steps in to Control Forex Market

IFP Media Wire -
Iran's First Vice President Eshaq Jahangiri has announced that his country will unify official and open market exchange rates following the Rial's recent drop against the dollar.
IFP Exclusive

Iran Leader Says People’s Economic Woes Resolvable

IFP Editorial Staff -
The Leader of Iran’s Islamic Revolution says he is well aware of the country’s economic conundrums and believes they can be overcome in the near future.
IFP Exclusive

US Using Dollar as Economic Weapon against Other Countries: Iran

IFP Editorial Staff -
A senior Iranian security official says Washington has formally announced that it is using the greenback as an economic tool to impose its will on other countries.
IFP Exclusive

Iran-Russia Joint Economic Commission to Meet in Moscow

IFP Editorial Staff -
Iran’s minister of economy and finance is heading a huge business delegation in an official visit to the Russian capital of Moscow for talks on mutual economic cooperation.
IFP Exclusive

Iran Central Bank Insists on Ditching Dollar in Transactions

IFP Editorial Staff -
Governor of the Central Bank of Iran Valiollah Seif has written a letter to the Iranian minister of trade and industry to reiterate his earlier calls for removing the US dollar from all business transaction.
Media Wire

Iran Gets Closer to Removal of US Dollar from National Economy

IFP Media Wire -
Iran moved a step closer to a plan to ditch the dollar in its trade activities by announcing that purchase orders by merchants that are based on the greenback would no longer be allowed to go through import proceedings.
IFP Exclusive

Iranian MP Urges Use of Alternative Currencies Instead of Greenback

IFP Editorial Staff -
An Iranian parliamentarian says using alternative foreign currencies in international financial transactions will ease psychological pressure on the dollar market.
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