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Trump’s Tough Talk on Iran Sends Rial Tumbling to Record Lows
10.2.2025
The Iranian currency plummeted to new lows against the U.S. dollar after President Donald Trump reinstated his “maximum pressure” policy against the Middle East country. Trump’s Rhetoric Impacts Markets The Iranian currency plummeted to new lows against the dollar after the U.S....
Central Bank of Iran promises CBDC launch, fintech to fight sanctions
26.11.2024
The digital rial is being developed for retail purposes so far, but the integration of Iranian payment systems with Russia may foil US sanctions.
Iran’s Digital Rial Near Launch, Central Bank Signals Progress
26.11.2024
Iran’s central bank signals the imminent launch of the digital rial, a central bank digital currency (CBDC), to streamline payments and bolster international financial integration despite sanctions. Iran’s Central Bank Sends Clear Signals on the Digital Rial Breakthrough Central Bank of Iran (CBI)...
Iranian Rial Plummets to Record Low Following Donald Trump’s Presidential Victory
7.11.2024
Iran’s currency, the rial, plummeted to an all-time low on Wednesday, trading at 703,000 rials to the dollar, following Donald Trump’s victory in the U.S. presidential election. This significant decline, which later slightly recovered, signals new economic challenges for Tehran amid ongoing...
Iran Launches Digital Rial Pilot on Kish Island
21.6.2024
The Central Bank of Iran (CBI) has announced the initiation of a pilot scheme to introduce the country’s central bank digital currency (CBDC) on the southern island of Kish. The CBI stated on Tuesday that the digital rial will be available to banking customers and tourists in Kish starting...
Iran to launch public CBDC pilot in June
19.6.2024
Unlike other types of electronic money in Iran, the digital rial doesn’t require interbank settlement to transfer funds between the buyer and the seller
Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq
10.7.2023
Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year....
Iran and Russia Talk Crypto Cooperation, Unveil Tool Streamlining Trade in National Currencies
12.6.2023
Experts and business representatives from Iran and Russia have discussed the potential uses of cryptocurrencies and blockchain. The two countries are also collaborating on implementing new financial instruments facilitating bilateral trade in their national fiats. Financial Expo Brings Together...
Russian Finance Minister Talks Dollar Attack on Russia, Importance of Developing Alternatives for Settlements
7.6.2023
Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian...
Iran-Russia Trade Settlements Exceed 60% in National Currencies, Says Joint Chamber Chief
4.6.2023
Iran and Russia have increased cooperation and settled more than 60% of their bilateral trade in the Russian ruble and the Iranian rial, according to the chairman of Iran-Russia Joint Chamber of Commerce. The two countries have ramped up their de-dollarization efforts with Iranian President Ebrahim...
Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements
19.5.2023
The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also...
Iran’s Crypto Rial Project Enters Trial Phase
10.3.2023
The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares...
More Than 65% of Oman’s Crypto Holders Are College Graduates — Study
13.1.2023
Approximately 65,000 of Oman’s residents are holders of crypto and a majority of these are either high school or college graduates, a new study by Souq Analyst has found. According to the study’s findings, an overwhelming majority (90%) of Oman’s crypto holders are aged between...
Iran set to freeze bank accounts of women who refuse to wear a hijab
7.12.2022
Iran’s plan to freeze bank accounts reinforces the need for decentralized currencies to exist in tandem with cash and CBDCs
Iran Begins Central Bank Digital Currency ‘Crypto Rial’ Pilot Today
23.9.2022
The Central Bank of Iran (CBI) has reportedly begun a pilot for its central bank digital currency (CBDC), also known as “crypto rial.” Iran’s chamber of commerce explained that the “crypto rial has been designed in a way that is easy to track, and even if the data on...
Iran to begin ‘crypto rial’ CBDC trial despite possible lack of infrastructure: Report
21.9.2022
The crypto rial has been in preparation for years; its introduction comes on the heels of the country’s introduction of cryptocurrency for foreign trade
Iran to Start Testing a Digital Rial This Week
21.9.2022
The country's central bank published a draft document outlining goals and and opportunities for a central bank digital currency in August
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
14.8.2022
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....
Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months
26.6.2022
The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From...
Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial
12.4.2022
Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,”...