Iranian Banks Buying Qatar Export Riyals
Iranian banks have started buying Qatar’s riyal from exporters of goods and services to the Persian Gulf emirate, director general of Trade Promotion Organization for Iran’s Arab-African affairs said.
After several meetings were held by traders, exporters and representatives of the Central Bank of Iran, Bank Saderat and Bank Melli Iran, the process of transferring hard currency resulting from exports to Qatar into the country were corrected and the method of setting the rate for purchasing foreign currencies from exporters were announced,” Farzad Piltan was also quoted as saying by TPO’s website.
He said that from Jan. 28, a day after CBI made the first purchase deal, Bank Saderat changed its base purchase price to the price announced by the regulator. On Monday, Qatar’s riyal gained more than 2% against the Iranian currency and was traded for 250 rials. Oman’s rial grew by more than 4%, reaching 5,000 rials.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
