Financial Tribune - Exchange shops in Tehran on Saturday sold the US dollar at 133,500 rials, which was up 2.7%, or 3,500 rials, compared to previous working day's close. According to the Tehran Gold and Jewelry Union website, the euro also posted 2.4% growth in Saturday trade with 148,500 rials. Local media also reported an increase in the difference ...

FNA - CEO of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati announced that the country is due to collect payment for its gas supplies to Iraq in euro. "The revenues of these (gas) exports are based on euro as stated in the contract (with Iraq)," Montazer Torbati said on Saturday. He added that the Central ...

Reuters | Francesco Guarascio: The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and its use as a reserve currency to challenge the dominance of the dollar. The move follows the decision by the United States to withdraw from an agreement with Iran on its nuclear program. ...

IRNA - While Some scholars are skeptical of the effectiveness of the European financial aid channel with Iran, a professor of economics at the University of Tehran said the creation of this euro-based mechanism is easy to apply with the will of the European side. With the departure of the US from the nuclear deal with Iran, the remaining four countries,...

Financial Tribune - Foreign exchange rates were again defiant and continued to climb on Tuesday with the US dollar surpassing the all-time high of 160,000 rials. According to the Tehran Gold and Jewelry Union website, the dollar was traded for 163,130 rials on the open market. The euro gained close to 2% with the single currency changing hands at ...

Sputnik - Russia is actively working to switch over to settlements in national currencies with the countries of the Middle East, Southeast Asia, Latin America and Africa, Russian Industry and Trade Minister Denis Manturov told Sputnik. "This process is not quick [transition to national currency settlements], and we launched it not in the form of ...

Tasnim Italys banking system authorities have agreed to let a number of the countrys bankrupt banks and the second and third-class banks to work with Iran using euro instead of dollar to skirt US sanctions, an Iranian official said. In an interview with Tasnim, chairman of Iran-Italy joint chamber of commerce, Ahmad Poorfallah, said Italy has given ...

IRNA Iraqi central bank in a directive announced that there is no problem for transactions with Iranian banks. Iraqi banks also stressed banning exchanges based on dollar with Iran. Having Euro transactions is based on the requirements made by the European central bank and all those banks working with Euro. Although the directive does not ...

RT- As part of its years-long effort to reduce reliance on US currency amid a deepening standoff with Washington, Tehran has announced it will start reporting foreign currency amounts in euros rather than dollars. The governor of Irans central bank (CBI) Valiollah Seif said that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion ...

Daily look at Irans late-breaking news and upcoming events:   Iranian cabinet replaces US dollar with euro During its official meeting on Wednesday, the Iranian cabinet of ministers decided to change the basic currency in its international transactions from the US dollar to the euro.   Enemy intel services have failed to inflict any ...

Reuters - The Central Bank of Iran has set a 10,000-euro limit for citizens foreign currency holdings outside banks, state media reported on Tuesday. Citizens have until the end of the month to sell any excess amount or deposit it in banks, the central bank said in a statement published by the Tasnim news agency. Failure to comply would result ...

MNA Central Bank of Iran Governor ValiollahSeif said Tue. that the decision to replace dollar with euro in the countrys foreign trade transactions will be implemented with more determination this year. Governor of the Central Bank of Iran (CBI) attended an open session at the Parliament this morning to discuss the recent foreign exchange fluctuations ...

Financial Tribune- The ban imposed by the Industries Ministry on import orders based on US currency seems to be a win for the European currency. Announced last week, the ban blocks imports priced in the US dollar for Iranian traders and is in line with the recent policy of the government and the Central Bank of Iran for sidelining the dollar. According ...

Financial Tribune- The two high-demand currencies, namely euro and dollar, continued their rallies on Monday to register record highs against the rial. The euro gained against rial on Tuesday to mark the European currencys highest value in Tehrans market since February 2013. Euro changed hands for 50,950 rials in the open market on Tuesday to register ...

IRNA Iran's banking relations with the European countries are underway in euro with no problem, Iran's Minister of Finance and Economic Affairs Ali Tayyebnia said on Monday. As for Iran's forex exchange in dollar, the minister said there are restrictions to this end but the existing problems are not related to the nuclear sanctions but to the bans ...

Aug 25 South Korea's finance minister said on Thursday his country will start trading with Iran using the euro on Aug. 29. "It will be implemented from next Monday," Yoo Il-ho told reporters in Seoul, referring to a decision which will allow trade between the two nations to be settled in the euro. The move "will greatly resolve obstacles that ...

  TEHRAN, Aug 17 (Shana) Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Qamsari said on Wednesday that due to problems Iran has with the US, dollar is replaced in certain dealings with preferably euro and then other currencies like Japanese yen and the UAE's dirham. Talking to Shana's English ...

South Korean companies will be able to carry out business with Iran in euros as early as next month, enablingthe Asian country to cash in on new opportunities from lifting of sanctions on Tehran. Financial transactions are currently conducted in the local won currency between the two countries because US sanctions prohibit dollar-based trade ...

TEHRAN (Tasnim) South Korean companies will be able to trade with their Iranian counterparts in the euro currency instead of the local won from as early as September, a report said. South Korea will start trial run in the new payment system as early as next month before full-fledged service following the removal of anti-Tehran sanctions, Pulse ...

  TEHRAN, Feb. 6 (Shana) Deputy director of International Affairs for Marketing and Crude Oil Operation in the National Iranian Oil Co said that Iran gives the priority to the European single currency euro as payment means of its oil export contracts. Our top priority is to receive cash and oil demands in euro, Safar-Ali Karamati told Shana ...