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Thursday, June 20, 2013 03:27
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currency crisis

Iranian Parliament approves probe of Central Bank

Iranian Parliament has passed a motion to investigate the actions of the Central Bank in connection with its management of the foreign currency market and the devaluation of the national currency. » read more

MP blames administration for worsening economy

Iranian MP Ahmad Tavakoli says the Iranian currency has fallen in value by 55 percent in the past year, and he blamed the Ahmadinejad administration’s economic policies for exacerbating the economic problems caused by international sanctions. » read more

Euro airlines cut flights to Tehran

Two European airlines, KLM and Austrian Airlines, have announced that they will stop their flights to Tehran due to a decline in ticket sales. » read more

Iran’s rial tumbles once again

The Iranian currency has plunged against the dollar once more, reaching 33,500 rials to the dollar. That constitutes a fall of 3,000 rials since last Monday. » read more

International airfares double in Iran

Following fare hikes of more than 50 percent for domestic flights in Iran, the cost of international tickets has risen even further — by 107 percent. » read more

Iran’s slowdown may be worse than predicted: IMF

The International Monetary Fund announced today that due to Iran’s currency crisis, the Islamic Republic economy may contract by more than the IMF had previously predicted. » read more

Iranians bid farewell to the tropical land

When I arrived in Malaysia a year ago, each Malayan ringgit was traded at 4,140 rials. Older migrants would tell me that in a not too distant past, it was even traded at 3,000 rials. They even told me of a time when, at 2,500 rials for a ringgit, Iranians found the green tropical jungles of Malaysia to be their paradise. » read more

MP warns against counterfeit foreign bills

The head of the economic commission of Iran’s Parliament announced on Saturday that “five billion dollars in fake bills” was being distributed among the public. » read more

Motion launched to impeach Ahmadinejad

Iranian lawmakers have once again launched a motion to impeach Iranian President Mahmoud Ahmadinejad. » read more