Precisely. A friend of mine had sold an apartment for 300 millions about three years ago and was wondering whether he should change it into dollars (dollar was 950 tomans back then) and bring it to Canada or invest it again in real estate in Iran. Eventually he put the money down for a 100-m apartment under construction in a nice neighborhood. Fast forward to day: The apartment is not fully finished yet, way over budget, and may fetch 600-700 million tomans while the exchange rate is about 4000 tomans. The value of his investment is now about half of what it was 3 years ago.
سوره دلار در دوران رهبریت جهانی اسلام :
الدلار(1) والدلار (2) و ما ادراک ماالدلار(3) التی تا نیم ساعت پیش 3 هزار (4)و الان 700 تومان روش بذار (5) و هذا من فضل محمود الحمار (6 ) اوسکلی زدیار گرمسار (7 ) الذی جعل کل امار ( 8) و پیشتاز در کل امور عین چاپار (9 ) به 3 سوت میرینه تو کار (10 ) انا ارسلنا المحمود لخنده حضار (11 ) میخندید ؟؟ کونتون پارست یا ایها الکفار ( 12 )
الدلار(1) والدلار (2) و ما ادراک ماالدلار(3) التی تا نیم ساعت پیش 3 هزار (4)و الان 700 تومان روش بذار (5) و هذا من فضل محمود الحمار (6 ) اوسکلی زدیار گرمسار (7 ) الذی جعل کل امار ( 8) و پیشتاز در کل امور عین چاپار (9 ) به 3 سوت میرینه تو کار (10 ) انا ارسلنا المحمود لخنده حضار (11 ) میخندید ؟؟ کونتون پارست یا ایها الکفار ( 12 )
Yeah, they don't really give a crap about the exchange rate because they'll just print more money, distribute it Mafia style and it makes no different to them - but that's only in the short term. In the long term, that leads to more and more inflation and highest cost of living for the masses which at some point (in the not so distant future) will become unbearable to the point that people will rise up against it.
What a BS country we have.
On Saturday, my mother bought some at 3820 tooman. Sunday was a holiday. On Monday, she bought some more at 3800. Tuesday and Wednesday took a slight dive and ended at 3650. Today it's back around 3750 after news emerged that Iran's talks with IAEA was a failure. Unbelievable.
On Saturday, my mother bought some at 3820 tooman. Sunday was a holiday. On Monday, she bought some more at 3800. Tuesday and Wednesday took a slight dive and ended at 3650. Today it's back around 3750 after news emerged that Iran's talks with IAEA was a failure. Unbelievable.
Dollar to reach 5000 T, from the horse's mouth...
مقام حکومتی: دلار بالای 5 هزار تومان می رود
سایت اعتدال: رئیس مرکز تجارت جهانی ایران و عضو شورای سیاستگذاری اقتصادی مقاومتی می گوید: در دولت احمدی نژاد هر کس صبح زودتر از خواب بیدار شود، سیاست ها را تعیین می کند.
*محمدرضا سبزعلیپور در گفتگو با اعتدال از جمله گفت: دولت امروز در بحث تعیین نرخ ارز بسیار سردرگم است.
*دولت احمدی نژاد و شخص رییس جمهور از اساس خود را رفته نمی بیند و احمدی نژاد تمایلی بی وصف دارد بر این که بخواهد دوره انتخاباتی بعدی را با یکی از کاندیدهای جبهه خود پیروز شود.
*با توجه به دستور العمل هایی که بانک مرکزی در ارتباط با مفاسد ارز و بحث های بازار دلار و در نظر گرفتن جرائم در کنار دور جدید تحریم ها، این گونه دستور العمل ها دلار بالای 5 هزار تومان می رود.
*دولت به جای این که تفکر بلند مدت داشته باشد، امروز برای امروز برنامه ریزی می کنند و فردا صبح برای فردا صبح برنامه ریزی می کنند این نوعی از بدبختی است که سیستم دولت را گرفته است.
* طرف دانشگاهی و یا مدرس بوده و امروز وزارتخانه ای را زیر نظر دارد و یکی دیگر مسئول روابط عمومی بوده است و امروز وزیر اقتصادی شده است.
* سوءمدیریت دولتی در وضعیت فعلی اقتصادی بالای 60 تا 70 درصد تاثیر دارد و مابقی سهم در اثر تحریم است.
*آقای اوباما در درگیری های داخلی کشور ما بین مسئولان نقشی ندارد.
مقام حکومتی: دلار بالای 5 هزار تومان می رود
سایت اعتدال: رئیس مرکز تجارت جهانی ایران و عضو شورای سیاستگذاری اقتصادی مقاومتی می گوید: در دولت احمدی نژاد هر کس صبح زودتر از خواب بیدار شود، سیاست ها را تعیین می کند.
*محمدرضا سبزعلیپور در گفتگو با اعتدال از جمله گفت: دولت امروز در بحث تعیین نرخ ارز بسیار سردرگم است.
*دولت احمدی نژاد و شخص رییس جمهور از اساس خود را رفته نمی بیند و احمدی نژاد تمایلی بی وصف دارد بر این که بخواهد دوره انتخاباتی بعدی را با یکی از کاندیدهای جبهه خود پیروز شود.
*با توجه به دستور العمل هایی که بانک مرکزی در ارتباط با مفاسد ارز و بحث های بازار دلار و در نظر گرفتن جرائم در کنار دور جدید تحریم ها، این گونه دستور العمل ها دلار بالای 5 هزار تومان می رود.
*دولت به جای این که تفکر بلند مدت داشته باشد، امروز برای امروز برنامه ریزی می کنند و فردا صبح برای فردا صبح برنامه ریزی می کنند این نوعی از بدبختی است که سیستم دولت را گرفته است.
* طرف دانشگاهی و یا مدرس بوده و امروز وزارتخانه ای را زیر نظر دارد و یکی دیگر مسئول روابط عمومی بوده است و امروز وزیر اقتصادی شده است.
* سوءمدیریت دولتی در وضعیت فعلی اقتصادی بالای 60 تا 70 درصد تاثیر دارد و مابقی سهم در اثر تحریم است.
*آقای اوباما در درگیری های داخلی کشور ما بین مسئولان نقشی ندارد.
Nice size temporary pull back on the dollar/Tooman conversion if you're planning to move some money out of Iran:
Iran rial strengthens after "positive" nuclear talks
DUBAI, March 4 (Reuters) - The Iranian currency jumped about 9 percent against the U.S. dollar because of apparent government intervention and a positive tone at nuclear talks between Iran and world powers, currency websites and Iranian media reported on Monday. The rial traded around 32,500-33,500 to the U.S. dollar in the free market on Monday, compared to about 36,300 on Sunday, the reports said.
The currency lost more than half its value and hit record lows in 2012, battered by U.S. and European economic sanctions which slashed Iran's oil earnings. But the rial has regained some strength in the past week, rising about 2 percent last Wednesday after talks on Iran's disputed nuclear programme with a group of world powers, known as the P5+1, in Kazakhstan. Although no breakthrough was reported in the talks, Iranian officials portrayed them as a positive step.
Since Sunday, the Iranian government appears to have provided larger supplies of dollars to the currency market, boosting the rial, Mehr news agency reported without giving details. "Those active in the currency and coin markets see the widespread provision of hard currency to the market and the positive environment of negotiations between Iran and the P5+1 group in Almaty as the main factors in the drop in the price of coins and currency," the agency said.
Iranians can exchange their rials for hard currencies through loosely regulated money changers, though the government cracked down on the traders and arrested dozens after the rial's plunge last year. The Fars news agency quoted an unnamed money changer on Monday as saying the rial's rebound this week had been so strong that many traders had stopped buying and selling currency until prices stabilised.
Iran rial strengthens after "positive" nuclear talks
DUBAI, March 4 (Reuters) - The Iranian currency jumped about 9 percent against the U.S. dollar because of apparent government intervention and a positive tone at nuclear talks between Iran and world powers, currency websites and Iranian media reported on Monday. The rial traded around 32,500-33,500 to the U.S. dollar in the free market on Monday, compared to about 36,300 on Sunday, the reports said.
The currency lost more than half its value and hit record lows in 2012, battered by U.S. and European economic sanctions which slashed Iran's oil earnings. But the rial has regained some strength in the past week, rising about 2 percent last Wednesday after talks on Iran's disputed nuclear programme with a group of world powers, known as the P5+1, in Kazakhstan. Although no breakthrough was reported in the talks, Iranian officials portrayed them as a positive step.
Since Sunday, the Iranian government appears to have provided larger supplies of dollars to the currency market, boosting the rial, Mehr news agency reported without giving details. "Those active in the currency and coin markets see the widespread provision of hard currency to the market and the positive environment of negotiations between Iran and the P5+1 group in Almaty as the main factors in the drop in the price of coins and currency," the agency said.
Iranians can exchange their rials for hard currencies through loosely regulated money changers, though the government cracked down on the traders and arrested dozens after the rial's plunge last year. The Fars news agency quoted an unnamed money changer on Monday as saying the rial's rebound this week had been so strong that many traders had stopped buying and selling currency until prices stabilised.
If this pull back is because of the way IR is spinning the nuclear negotiations as being successful, it's going to be very temporary because I'm seeing the exact opposite reaction from foreign politicians and media. Amano (IAEA) told the board earlier today that he was pressing for access to Parchin. Natanyahu, being frustrated with the talks in Kazakhstan also reiterated that military intervention is the only way to stop Iran's nuclear program and Biden said Obama is "not bluffing" on stopping Iran's nuclear program just a few hours ago. That's all in addition to Kerry's visit to the Arab Gulf nations this week where the main focus is on Iran and Syria. All that seems to point at heightened threats of military intervention, so we can expect another major crash into the 4000 region within the next few weeks, if not days.
Oh yeah, this is a completely useless piece of news for people who are not converting to dollars and is not going to make any difference in the price of necessities, because those are still imported with official government rates. I think the government may be flooding the black market with some extra dollars, in lieu of the spin they put on the news, to create the illusion that the Rial will go back up. This will take pressure off their foreign reserves, because people will stop buying dollars or better yet, start selling what they bought earlier. Judging by what you wrote Soroosh joon, I think the strategy has worked - at least for now.