Economy

Radiofarda – Real estate prices in Iran’s capital Tehran have risen by 23 percent in the past one month, the Ministry of Housing, Roads and Urban Development has announced. The unprecedented increase in house prices have been in parallel with the devaluation of the national currency and its fall against the U.S. dollar and other major currencies. Compared with the …

Radiofarda – Reports from Iran say that that the value of Iranian currency rial has fallen to a record low June 22, as the U.S. dollar traded at the open markets in Tehran for 200,000 rials or even more. This could be the biggest devaluation of Iran’s national money since records have started. However, while some Iranian websites have said …

Radiofarda – Workers at one of Iran’s most restive industrial units, the Haft Tapeh sugarcane complex resumed their strike for the eighth consecutive day on Monday, June 22. They are demanding three-month overdue wages and protesting the non-renewal of their social welfare and medical insurance, as well as lack of job security. According to the Haft Tappeh Sugarcane Workers’ Union, …

RFL/RE – Iran’s currency has tumbled against the dollar to its lowest level ever as the country grapples with U.S. sanctions, the coronavirus, and low oil prices.The rial fell to as low as 193,400 against the dollar on the street market on June 20, according to foreign exchange website Bonbast.com. The economic daily Donya-e-Eqtesad gave the dollar rate as 190,800.The …

Radiofarda – Iran’s currency the rial has again fallen to record lows against the U.S. dollar on Thursday, June 18, with each dollar trading at 188,200 rials or 20 percent higher than just a few weeks ago. Until Sunday the dollar was below 180,000 rials but it rose throughout the trading week in Iran in the open market among citizens …

Radiofarda – After an eight-hour trip to Iraq June 17, the Governor of the Central Bank of Iran (CBI), Abdolnasser Hemmati, announced that Baghdad had agreed to settle its gas and electricity-related debts to Tehran by providing food and medicine to Iran. The Islamic Republic state-run Mehr News Agency (MNA) also cited the newly elected Iraqi Prime Minister, Mustafa al-Kadhimi, …

Radiofarda – The United Nations Conference on Trade and Development (UNCTAD) in its latest report says foreign direct investment (FDI) in Iran has dropped by 36.5 percent in 2019 compared with the previous year. Figures published by UNCTAD show foreign investment in Iran was $ 1.5 billion over the past year, the lowest since 2002. That figure was above $ …

Radiofarda – An Iranian regulatory body on Tuesday issued a permit allowing price hikes of up to 25 percent for domestically produced home appliances in a bid to control runaway prices. Fast devaluation of the national currency and higher costs of production have led to soaring prices in every sector. The devaluation is mainly due to U.S. sanctions that have …

Radiofarda – The situation of COVID-19 pandemic in Iran appears to be deteriorating with 115 deaths and 2,563 new cases during the past day, amid concerns about the start of a new wave of infections and rumors about the possible resignation of Health Minister Saeed Namaki. Health Ministry Spokeswoman Sima Lari says this has been the third consecutive day with …

Radiofarda – Like its Latin American ally, Venezuela, Iran appears to be rebranding its crude oil destined for China in Malaysia to circumvent U.S. sanctions. Data provided to Radio Farda by oil tanker tracking and intelligence firm Kpler indicates that Iran has suddenly increased oil exports to Malaysia since January. At the same time, official figures show a huge drop …