Vistar - Business Monitor

What Direction Will the Iranian Rial Go in 1397 (2018)?

Jan 15, 2018 Fixing the FOREX rate in the budget and its outlook in the year to come has been one of the most controversial questions on the economic front. The government seems to have a long way to go before it can integrate and realize a single foreign exchange rate, economic players are still waiting for it, though. Read more

Why Didn’t the Dollar Depreciate after the Sanctions Relief?

Apr. 11, 2016 Some market players expected the JCPOA would lead to depreciation of the US dollar against the rial; however, during the nuclear negotiations and before the talks resulted, authorities clearly rejected the possibility of a lower rate for the dollar. Read more

Unifying the Foreign Currency Rates

Mar. , 2016 Iran had a unified forex rate system between 1991 and 2001 – which was a failure. The Central Bank of Iran, backed by petrodollars, had interfered in the currency market in the past years to keep the rial’s value artificially high. That policy was against interests of exporters as they lost their competitiveness in the global market. In the past couple of years, despite weak oil prices, the CBI continued to pursue that policy in the hope that its assets blocked overseas would soon be released after the implementation of the Joint Comprehensive Plan of Action. Read more