The number of real estate deals in Tehran City fell 64.6 percent in the fourth Iranian calendar month of Tir (June 22-July 22), compared to the same month in the past year, IRIB reported citing the data released by Central Bank of Iran (CBI).
As reported, the number of deals during the fourth month of this year has been 4,800, and the housing price has risen 91.5 percent year on year in Tehran City.
As previously announced the Ministry of Roads and Urban Development, the number of real estate deals in Tehran City fell 44.8 percent in spring, which corresponds to the first quarter of Iranian calendar year, compared to the same quarter in the past year.
The ministry’s report said that the number of deals during the first quarter of this year has been 21,537, and the housing price has risen 106 percent year on year in the capital city.
Governor of Central Bank of Iran (CBI) said the currency market is moving toward stability and predictability after a year of turmoil, IRNA reported.
Iraqi Ambassador to Iran Sa’d Javad Qandil said his country and Iran are considering mechanisms to use local currencies in their bilateral trade to reduce reliance on the U.S. dollar, Mehr news agency reported.
The Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said that deleting four zeros from the national currency will have no impact on the inflation rate, adding that the central bank is ready to implement the plan.
Central Bank of Iran (CBI) has postponed launching the integrated forex market which was due to start operation by mid-August, Tasnim news agency reported.
Iranian government has introduced new rules for regulation of cryptocurrency market as more people enter the market to access international currencies in the sanctions era.
Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value last year after the restoration of economic sanctions on Tehran in 2018.