Thursday , 19 September 2019

Economy

Millions Of ‘Unidentified Account Holders’ In Iranian Banks

Radiofarda – Iran suffers from deep-rooted problems in its banking, including a phenomenon called “unidentified account holders” in Iranian banks. According to the Iranian semi-official Mehr News Agency, there are an estimated one million accounts with unknown holders only with Bank Melli Iran, one of the 41 Iranian banks. “Bank Melli Iran is one of the most credible banks in the country. …

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Iran Ranks Near Bottom Of World Economic Freedom Index

Radiofarda – Iran ranks 143rd in the world economic freedom index says the latest report published by the Canadian Fraser Institute on Thursday, September 12. The annual report measures the economic situation in 162 countries and territories across the world. Two Asian economies, Hong Kong and Singapore, are once again the most economically free territories in the world. Hong Kong …

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Oil falls 2.9% following report Trump discussed easing sanctions on Iran

CNBC – Oil prices dropped on Wednesday after Bloomberg News reported that President Donald Trump discussed easing sanctions on Iran in order to reopen negotiations.  President Donald Trump signed an executive order imposing sanctions on Iran in June in response to the downing of an unmanned U.S. drone in the Strait of Hormuz. Trump said “we’ll see what happens” and that he …

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The interplay between exchange rates and inflation in Iran

Al-Monitor – Over the past few months, Iran’s national currency has regained some of the value it lost in 2018. In fact, compared with its lowest point against the US dollar (146,000 rials in November 2018), the currency has regained about 30% of its value. Nonetheless, the high inflation that was brought about by the collapse of the national currency has not eased yet …

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Prices For Imports Increased By 150 Percent In Iran

Radiofarda – Iran’s Statistical Center says from mid-2018 to mid-2019 prices of imported goods in Iran increased by 150 percent. Iran’s currency rial began losing value at the beginning of 2018, as the United States signaled its intention to withdraw from the 2015 nuclear agreement. The devaluation picked up steam in March 2018 and by September of that year reached …

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Iran’s Oil Exports Decline To Below 200,000 Barrels p/d In August

Radiofarda – Figures received by Radio Farda from Kpler, a data intelligence firm show Iran’s oil exports in August declined to 160,000 barrels per day, versus 365,000 in July. Last year in August Iran exported around two million bpd; before the United States imposed oil sanctions in November. Kpler’s figures indicate Iran exported 22 thousand bpd to Turkey, 33 thousand …

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Middle And Low Income Iranians Can’t Even Afford Tuna, Says Industry Insider

Radiofarda – A member of Iran’s canned foods association says low and middle income people cannot afford canned tuna any longer, due to price inflation. Saleh Adibzadeh told Iran’s semi-official ILNA news website on Monday, “Canned tuna was a regular part of the food basket for middle and low income strata and for university students”, but they cannot afford one …

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Iran foreign debt down by 7 percent in 2 months: Central Bank

PayvandNews – The Central Bank of Iran (CBI) says the debt the country owes to foreign creditors have decreased by seven percent in two months. The CBI said on Sunday that aggregate foreign debts stood at $8.816 billion on May 21, 2019, down from $9.339 billion at the end of last Iranian calendar year on March 20. It said long-term …

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Sanctions choke Iran’s crude sales, but oil product exports booming

Reuters – While U.S. sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.FILE PHOTO: A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian …

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Iran’s Currency Keeps Rising Amid Diplomatic Efforts To Reduce Tensions

radiofarda – In the wake of a series of diplomatic efforts aimed at reducing tensions between Iran and the United States, the value of the Iranian currency rial rose 1.8 percent against the dollar on Tuesday. Various currency websites at midday Tuesday local time in Iran reported the rial trading at just below 110,000 to the dollar. In July the …

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