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Iran money changers recoil at new currency cap TEHRAN: Money changers in central Tehran were open on Saturday but refusing to sell dollars at a fixed rate in defiance of a new order by authorities seeking to reverse a collapse in Iran's currency that sparked protests this week.   "We received an order from the Money Changers' Association (under control of the Central Bank) telling us to buy the dollar at 25,000 rials and sell at 26,000," one exchange bureau employee told AFP.   "Nobody is selling at this price and we are not trading," he said. The bureaux in the central Ferdowsi area of Tehran had opened for the first time since Wednesday's protests, in which scuffles broke out between police and stone-throwing individuals.   Sixteen exchange market "disruptors" were arrested, according to prosecutors.   The dollar rate being imposed on Saturday would strengthen the rial by 25 percent than the last trades recorded on Wednesday, when the dollar was fetching around 36,000 rials itself a ...

India rupee gains for fifth week; govt raises reforms ante  MUMBAI: The Indian rupee fell on Friday following large outflows from a private equity firm's stake sale, climbing down after the government's push for fiscal and economic reforms had sent the local currency to a six-month high earlier in the session.   The falls on Friday end a five-day winning streak, with analysts warning of some consolidation, especially with US monthly jobs data due later in the day and in the run-up to the Reserve Bank of ...
ECB assurances lift Asia FX; rupee leads weekly gains  SINGAPORE: Emerging Asian currencies rose on Friday and most were set to see weekly gains after the European Central bank said it was ready to buy bonds of troubled euro zone members.   The South Korean won hit a nearly one-year high on bids from offshore funds, while the Taiwan dollar enjoyed inflows from foreign financial institutions and demand from exporters for settlements.   The Malaysian ringgit rose 0.2 percent, although it gave pared earlier gains after worse-than-expected export ...
Yen edges up after BoJ leaves rate unchanged  TOKYO: The yen edged up against major currencies on Friday after the Bank of Japan kept interest rates unchanged and held off further easing measures.   The dollar changed hands at 78.37 yen in Tokyo afternoon trade against 78.48 yen in New York late Thursday.   The euro bought $1.3015 and 102.00 yen, compared with $1.3018 and 102.16 yen in New York.   The Japanese unit rose after the BoJ said its policy board had voted unanimously to keep rates at ...
Euro steady near 2-week high, yen firms on BoJ  SINGAPORE: The euro eased but still held near a two-week high versus the dollar on Friday, finding support after the European Central Bank said the previous day that it was ready to buy bonds of troubled euro zone members.   The yen edged higher after the Bank of Japan kept monetary policy unchanged and held off from additional easing measures.   The initial reaction was limited, however, as Friday's decision was in line with expectations.   The euro traded at $1.3014, ...
India rupee at near 6-month high; reform moves boost  MUMBAI: The Indian rupee rose to a near six-month high in opening trade on Friday after the government took more reform measures to attract foreign investment.   India's cabinet approved bills on Thursday to attract foreign investment into insurance and pensions among new measures to restore confidence in the economy, although the reforms will face a tough fight in parliament.   Positive global risk sentiment and a stronger euro also aided gains, dealers said. At 9.02 a.m. local time, ...
Short-covering supports Asia FX before ECB, BoJ; US data eyed  SINGAPORE: Emerging Asian currencies edged up on Thursday as a rebound in the Australian dollar spurred short-covering, but many investors were hesitant to add fresh bets before central bank policy meetings in Europe and Japan, as well as key US economic data.   The Indian rupee led gains in the region, hitting a five-and-a-half month high on hopes the government may soon announce more reforms to reinvigorate the economy. Taiwanese exporters lifted the island's currency.   The Philippine peso rose ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln