Iranians selling US assets as deal nears – Report

Iranians selling US assets as deal nears – Report

HomeIranEconomy Sun Mar 15, 2015 4:52PM

Reports have emerged in US media that Iranians living in the country are selling their assets in what appears to be a reaction to the falling value of the dollar against the Iranian rial.

“Iranians living here [in America] can seize the opportunity to park their money in Iran while it [the Iranian rial] is strong today. Markets inside Iran have started reacting positively to the good news for the Iranians of a prospective deal by next week,” an unnamed Iranian national has told the Breitbart News in an exclusive interview.

“Iranians are selling their dollar-based assets in the USA because it could buy more rials today than in six months time,” he said.

He added that the general feeling among Iranian nationals living in the US is that a deal between Iran and P5+1 to resolve disputes over the Iranian nuclear energy program is imminent.

“They feel a deal is imminent and that they are better off investing in the Iranian rial.” He gave the example of teachers, and upper and middle class workers, many of whom had transferred portions of their paychecks into US dollars as a sort of insurance measure and now feel it is time to reinvest in Iranian capital.

Iran’s exchange market on Sunday witnessed an unprecedented appreciation of the Iranian rial against the US dollar in what many see is the result of an overwhelming positive speculation by the country’s businesses toward the outcomes of nuclear talks now underway in Lausanne, Switzerland.

Figures showed the exchange rate for the US dollar that was 35,700 Rials two weeks ago has declined to as low as 31,800 rials at the end of the trading on Sunday. This marks a fall of around 11 percent.

The decline of the rate of the dollar against the rial has been recorded at 3 percent over the past 24 hours.

This came as negotiators from Iran and the US are in the Swiss city of Lausanne for a fresh round of talks over remaining obstacles on the way of a final agreement on the Iranian nuclear energy program.

Both Iran and the US have already emphasized that their latest meetings have been positive. Not much has come out to the media regarding the exact agenda of the talks. Nevertheless, speculations suggest that the timetable for the lifting of the sanctions against Iran which is expected to unleash foreign investments into the country is a key theme in the talks.


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