Economy

Radiofarda – The exchange rate for the U.S. dollar rose on Sunday in Iran to almost 140,000 rials, reaching its highest point in the past three months.

Radiofarda – As food prices soar to hyperinflation levels in Iran, authorities resort to arrests and trials of merchants, trying to slow down the process and to show the public they are confronting the crisis.

Radiofarda – The Iranian government’s Statistical Center has announced the inflation rate for the year ending on February 20 as 42.3 percent.

RFL/RE – A senior Iranian official has said Tehran has many options to neutralize the reimposition of U.S. sanctions on its oil exports, the semiofficial Tasnim news agency reported on February 23.

Radiofarda  – Iran has until June to fix its anti-money laundering and terrorism financing rules or face increased international scrutiny of its banks, a global watchdog said on Friday.

Radiofarda – The Islamic Republic marked its 40th anniversary on February 11, 2019. Since 1979, the Iranian economy has experienced sharp fluctuations, mostly during the Iran-Iraq war (1980-1988), international sanctions era (2012-2016) and more recently after the U.S. withdrawal from the 2015 Iran nuclear agreement in May 2018.

Al-Monitor – A disagreement between the Central Bank of Iran and factions of the government, backed by lawmakers, over profits from foreign exchange sales has now taken the form of a pending amendment to the country’s annual budget law. If passed by the Guardian Council, the amendment — which calls on the central bank to pay a significant sum to the government as tax – …

Radiofarda – Police chief of Greater Tehran has announced Tuesday the arrest of “twenty foreign currency dealers”, as the U.S. dollar makes more gains on the local market.

Radiofarda – The U.S. dollar is again on a steep rise in Iran. The greenback climbed to over 130,000 rials on Monday morning February 18. This is the biggest rise for the dollar in Iran’s government-controlled forex market during the past three months.

Al-Monitor – To address the shortage of jobs in the country, Iran’s government has banked on the thriving technology sector. Yet, despite the alarming unemployment rate, fledgling service sector startups have difficulties with hiring unskilled workers. In this regard, traditional mentalities and new working conditions should be blamed.