Page 5 - IRANRptOct19

Iran should work to eliminate the gap that currently exists between the Iranian rial (IRR) market exchange rates and official exchange rate, according to the IMF, which will help tame and control inflation and reduce pressure on the exchange rate. The IRR is around two-thirds weaker against the dollar on the unofficial market compared to where it stood before it became clear early last year that the US was switching its Iran policy back to a sanctions-led approach.
Meanwhile, Iran’s redenomination bill was sent to the Iranian​ ​parliament by the cabinet​ on ​August 21 for debate among MPs, according to ICANA.
Iran is set to remove four zeros from its currency, the Iranian rial (IRR) in the next two years, provided all relevant bodies, including the Guardian Council, government committees and parliament give their blessing. As part of the new currency, to be officially called the “toman”, a new sub-currency named the “parseh”, equal to 100 toman, will be legislatively introduced.
2.0​ ​Politics
2.1 ​Iran, US have month to find way to negotiating table
warns French foreign minister
Iran and the US have one month to find their way to the nuclear deal negotiating table, France’s foreign minister warned on October 4.
At last week’s UN General Assembly gathering of world leaders in New York, French President Emmanuel Macron attempted, but failed, to broker talks between US President Donald Trump and Iranian President Hassan Rouhani.
“We consider that these initiatives, which didn’t succeed, are still on the table
and it is up to Iran and the United States to seize [the initiatives] in a relatively short amount of time because Iran has announced new measures to reduce its commitments to the Vienna accord in November,” Jean-Yves Le Drian told the French parliament’s foreign affairs committee. The Vienna accord is another term for the 2015 nuclear deal, or Joint Comprehensive Plan of Action (JCPOA) as it is formally entitled.
After giving up on a period of “strategic patience” during which Tehran waited in vain for Europe to come to its assistance in helping to protect the Iranian economy from the sanctions-led “economic war” the US has pursued against Iran since Trump unilaterally walked out of the JCPOA in May 2018, Iran has been gradually stepping up its non-compliance with the nuclear deal. The policy is designed to pressure Europe to help secure good reasons for Iran to stay in the nuclear deal, under which Iran commits not to pursue the development of a nuclear weapon in return for a shield against heavy international sanctions.
Iran has said its next non-compliance moves will occur at the start of November. Diplomats are anxious that the moves could force European powers to respond, unlike after previous breaches.
5​ IRAN Country Report​ October 2019 www.intellinews.com