Iranian economy

Crypto mining now official activity in Iran

  Cryptocurrency mining is now an official industrial activity in Iran after winning approval from the country’s cabinet. In a session on Sunday, chaired by President Hassan Rouhani, cabinet …

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Iran to launch its own cryptocurrency

Iran's Peyman cryptocurrency is about to start operating and will soon be launched, CEO of Bank Melli Iran Mohammad Reza Hosseinzadeh said, adding that the cryptocurrency is gold-backed. Hosseinzadeh noted that …

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India ends Iranian oil imports

India has ended all imports of oil from Iran, its ambassador in Washington Harsh Vardhan Shringla said. The diplomat said that India had already sharply decreased its imports from Iran and bought one million tonnes …

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Rouhani: economic war being waged against Iran

Iran will not surrender to U.S. pressure and will not give up on its goals even if it is bombed, Iranian President Hassan Rouhani said as tension rises between the Islamic Republic and the United States. Speaking at a …

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Iran to increase gasoline production, Zanganeh says

Zanganeh said on Monday that the third phase of Persian Gulf Star Refinery (PGSR), in the city of Bandar Abbas, southern Hormozgan province, will go into full swing in the coming weeks, which will increase the country’s gasoline output to …

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Iran rial hits record low around 150,000 against dollar

Iran rial extended its slide on Wednesday, hitting a record low around 150,000 against the dollar, according to foreign-exchange websites, Reuters reported. The dollar was being offered for 150,000 rials, compared with about 138,000 …

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Tehran arrests currency traders as rial plunges

Tehran authorities have detained almost 100 currency traders and frozen bank accounts reportedly worth 200tn rials ($5.3bn) in the biggest crackdown on foreign exchanges in six years. The operation is aimed at tackling a slide in the …

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Iran's GDP 8% growth depends on political consensus

Minister of Economic Affairs and Finance Ali Tayyebnia believes an 8% economic growth for the upcoming Iranian year (March 2017-18) is within reach, “if the political wrangling during presidential campaigns does not …

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Why Iran's Rial Hit an All-Time-Low Against the US Dollar

Today $1 costs 100 thousand Iranian rials, that is an all-time-low rate against dollar. Although several reasons for the slide have been put forward by economists – amongst them the strength of the dollar against other currencies in the …

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Iran’s Cabinet passes monetary reform motion

Iranian President Hassan Rouhani’s cabinet on Wednesday approved a motion put forward by the Central Bank of Iran (CBI) to change the national currency from rial to toman, leading to a ten-fold decrease in banknote denomination...

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Iran establishes relations with foreign banks

Iran has established correspondent relations with 230 foreign banks since January 16, 2016, the vice governor of Central Bank of Iran for foreign exchange affairs, Gholamali Kamyab, said. He noted that Iranian …

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