Iran's central bank announced yesterday devaluation of the real rate of 8 per cent, and said he would impose a unified exchange rate as of tomorrow (Saturday) to eliminate the black market where the dollar jumped in recent weeks amid concerns over new sanctions imposed by Western countries. The move comes a day after President Mahmoud Ahmadinejad raised the proportion of the interest rates to 21 per cent. The governor of the Central Bank Mahmoud Bahmani told state television that the dollar will be the new 12 thousand riyals and 260, starting on Saturday. The total price of the dollar on the official website of the Bank on March 11, and 296 thousand riyals. It seems that the sanctions announced by the United States and the European Union over the previous month target oil exports of Iran vitality and its central bank was the most painful for the Iranian economy is paid to the emergence of real fears and chronic on the Iranian economy and weakened foreign exchange inflows, and landed in local currency to levels not seen since the eighties of last century during the Islamic Revolution and the Iraq war - when the Iranian currency against the dollar collapsed.
And suffered a new setback Iranian currency against the dollar, her features appeared during the past few days with a rapid decline in the exchange rate of the Iranian rial pressure from the international sanctions on Iran's oil and its central bank. Rial continues to decline rapidly since the end of last month amid growing concerns of a repeat of the events of the eighties of the last century and the collapse of the domestic currency after the outbreak of the revolution and during the war, Iran - Iraq, which reports said Iranian yesterday.
And plunged the value of Iranian rial since the beginning of this month and until yesterday against the dollar by about half, compared to what it was in December (December) last year. However, lack of shops to exchange hard currency, with the citizens refused to give up all their savings in foreign currency.
It is interesting that the network «Tabnak» News Iran is close to the Iranian Revolutionary Guard, expressed fear of further Iranian rial decline accelerated since the end of last month amid growing concern that it considered a repetition of the events of the eighties of the last century and the collapse of the domestic currency after the outbreak of the revolution, Khomeini during the Iran - Iraq.
And led sanctions announced by the United States and the European Union over the previous month target Iran's vital oil exports and its central bank to the growing concerns about the weakened economy and foreign exchange inflows. The lost Iranian currency, Rial, already part of its value since the decision was issued in April (April) reduction in interest on deposits in banks to between 12.5 and 15.5 per cent, below the rate of inflation, which currently stands at about 20 per cent, which pay a lot of Iranians to withdraw their savings from banks to buy gold and foreign exchange, which in turn led to the rise of prices.
The day before yesterday bowed Iranian President Mahmoud Ahmadinejad appears to the reality of the market and agreed to raise the proportion of the interest rates to 21 per cent, and the agency quoted «Mehr» Iranian economic spokesman of the government as saying that President Ahmadinejad and agreed on the list of the Monetary Council to increase the proportion of the interest rates to become higher than the rate of inflation, or 21 per cent. Said Shams al-Din Hosseini, Minister of Economy and Finance was commissioned Governor of the Central Bank informed of the decision, approved by the Monetary Board to the banks in order to start its implementation.
In a new development, banking sources said yesterday that business and the major banks in the European Union stopped funding for grain shipments bound for Iran.
The European grain trader said it is a fact now that none of the EU banks will not provide funding for commercial shipments of grain and vegetable oils and the like destined to Iran. He become very difficult now financed shipments to Iran through the banking systems. Some buyers Iranians are seeking to use other methods to avoid the payment of letters of credit .. Primarily through direct payment .. But this is impractical with large-scale shipments.
A banking source said the major European banks have stopped financing trade of agricultural products destined for Iran and that any new deals will have to be supported by small financial institutions.
Iran imports about 4.5 million tons of grain annually, including about 3.5 million tonnes of maize, according to figures from the International Grains Council.
And Iran among the top 10 importers of corn in the world. Among the leading corn exporter to Brazil, Argentina and Ukraine.
And suffered a new setback Iranian currency against the dollar, her features appeared during the past few days with a rapid decline in the exchange rate of the Iranian rial pressure from the international sanctions on Iran's oil and its central bank. Rial continues to decline rapidly since the end of last month amid growing concerns of a repeat of the events of the eighties of the last century and the collapse of the domestic currency after the outbreak of the revolution and during the war, Iran - Iraq, which reports said Iranian yesterday.
And plunged the value of Iranian rial since the beginning of this month and until yesterday against the dollar by about half, compared to what it was in December (December) last year. However, lack of shops to exchange hard currency, with the citizens refused to give up all their savings in foreign currency.
It is interesting that the network «Tabnak» News Iran is close to the Iranian Revolutionary Guard, expressed fear of further Iranian rial decline accelerated since the end of last month amid growing concern that it considered a repetition of the events of the eighties of the last century and the collapse of the domestic currency after the outbreak of the revolution, Khomeini during the Iran - Iraq.
And led sanctions announced by the United States and the European Union over the previous month target Iran's vital oil exports and its central bank to the growing concerns about the weakened economy and foreign exchange inflows. The lost Iranian currency, Rial, already part of its value since the decision was issued in April (April) reduction in interest on deposits in banks to between 12.5 and 15.5 per cent, below the rate of inflation, which currently stands at about 20 per cent, which pay a lot of Iranians to withdraw their savings from banks to buy gold and foreign exchange, which in turn led to the rise of prices.
The day before yesterday bowed Iranian President Mahmoud Ahmadinejad appears to the reality of the market and agreed to raise the proportion of the interest rates to 21 per cent, and the agency quoted «Mehr» Iranian economic spokesman of the government as saying that President Ahmadinejad and agreed on the list of the Monetary Council to increase the proportion of the interest rates to become higher than the rate of inflation, or 21 per cent. Said Shams al-Din Hosseini, Minister of Economy and Finance was commissioned Governor of the Central Bank informed of the decision, approved by the Monetary Board to the banks in order to start its implementation.
In a new development, banking sources said yesterday that business and the major banks in the European Union stopped funding for grain shipments bound for Iran.
The European grain trader said it is a fact now that none of the EU banks will not provide funding for commercial shipments of grain and vegetable oils and the like destined to Iran. He become very difficult now financed shipments to Iran through the banking systems. Some buyers Iranians are seeking to use other methods to avoid the payment of letters of credit .. Primarily through direct payment .. But this is impractical with large-scale shipments.
A banking source said the major European banks have stopped financing trade of agricultural products destined for Iran and that any new deals will have to be supported by small financial institutions.
Iran imports about 4.5 million tons of grain annually, including about 3.5 million tonnes of maize, according to figures from the International Grains Council.
And Iran among the top 10 importers of corn in the world. Among the leading corn exporter to Brazil, Argentina and Ukraine.
ليست هناك تعليقات:
إرسال تعليق