Iranian banks have started buying Qatar’s riyal from exporters of goods and services to the Persian Gulf emirate, director general of Trade Promotion Organization for Iran’s Arab-African affairs said.
After several meetings were held by traders, exporters and representatives of the Central Bank of Iran, Bank Saderat and Bank Melli Iran, the process of transferring hard currency resulting from exports to Qatar into the country were corrected and the method of setting the rate for purchasing foreign currencies from exporters were announced,” Farzad Piltan was also quoted as saying by TPO’s website.
He said that from Jan. 28, a day after CBI made the first purchase deal, Bank Saderat changed its base purchase price to the price announced by the regulator. On Monday, Qatar’s riyal gained more than 2% against the Iranian currency and was traded for 250 rials. Oman’s rial grew by more than 4%, reaching 5,000 rials.
The governor of the Central Bank of Iran on Monday met with the ambassador of Switzerland in Tehran to discuss improvements in the banking system and the possibility of Iranian lenders opening branches in the Alpine country.
The Central Bank of Iran has welcomed the country’s risk rating improvement from 6 to 5 by the Organization for Economic Cooperation and Development, regarding it as another promising signal of the country’s enhancing financial and credit status in international markets.
The average goods and services Consumer Price Index for urban areas in the 12 months ending Jan. 20, which marks the end of the Iranian month of Dey, increased by 10% compared with last year’s corresponding period, the latest report released by the Central Bank of Iran announced.
The Iranian housing sector is witnessing a notable increase in residential deals in a sign of imminent recovery, but a deputy roads and urban development minister said this will not translate into higher prices.
With the shadow of political risks receding, investors went back to cashing in on rising global commodity prices and stocks kept growing after weeks of lackluster trade.
In its latest directive to the banking system, the Central Bank of Iran has obliged all banks and credit institutions to refrain from accepting any kind of guarantees from financial entities active in the capital market and under the supervision of the Securities and Exchange Organization, including brokerage firms.