Date: 09 Mar 2000
Time: 07:43:34
Remote Name: 156.29.145.175
03/09/2000 BBC Worldwide Monitoring Source: 'Akhbar-e Eqtesad' web site, Tehran, in Persian 9 Mar 00/BBC Worldwide Monitoring/(c) BBC
Text of report by Iranian newspaper 'Akhbar-e Eqtesad' web site on 9th March
For the first time in 10 months the value of America's dollar fell below 8,150 rials at the unofficial [black] market yesterday. In fact the dollar value fell below 8,140 rials. According to a report by 'Akhbar-e Eqtesad', following the news yesterday on the probability of America easing trade sanctions on some Iranian products to import rugs, pistachios and caviar from Iran , the market panicked that more dollars will be offered to the applicants. Over the past 11 days the dollar value was fluctuating around 8,200 rials, but it fell below 8,150 rials yesterday. A senior official of Clinton's administration confirmed yesterday that Washington intends to lift sanctions on the goods mentioned above. They have not specified the precise date yet, but there is a rumour among the Iranians in America that Clinton, in his Nowrus [ Iranian New Year] message to the Iranians, will announce the news. Economic experts believe that the measure of Clinton's administration is a prelude to the total lifting of trade sanctions. Some experts in the unofficial currency market predict that if more detail were to be released on the lifting of sanctions, the market would be more influenced by this transformation, which is described as "highly significant". Traders believe that the visit to Iran by the foreign ministers of Italy and Germany has weakened the foreign currency value further. However, the dollars value fell in Tehran despite its rising value at the international market, thanks to the news on the easing of America's sanctions.