Iran's Forex reserves are swelling

AlfredSokol said: "You might not think of Iran as a hotbed of Forex action, but [url=http://www.presstv.ir/detail.aspx?id=18548§ionid=351020102]it is[/url] [quote] ran's foreign currency reserves reached $20.473 billion by March 21, 2007, with the private sector receiving more banking facilities. One of the most important decisions in Iran's economic history was the setting up of a foreign currency fund in 2000, Fars news agency reported. A total of $5.9 billion, $2.1 billion, $5.9 billion, $5.7 billion, $1.4 billion, $13.2 billion and $21.7 billion was funneled into the country's foreign currency deposits in 2000, 2001, 2002, 2003, 2004, 2005 and 2005, respectively. [/quote] Quite the growth rate. :jump:"

newinvestor123 said: "Won't be long until they're [URL="http://www.globalresearch.ca/index.php?context=viewArticle&code=CLA20060210&articleId=1937"]holding all those reserves in Euros...[/URL]"

ratAphooey said: "this is strange to me. i cant figure out why so much investment there."

AlfredSokol said: "[QUOTE=ratAphooey]this is strange to me. i cant figure out why so much investment there.[/QUOTE] Maybe they think it will be the next big vacation spot."

Pb3190 said: "[QUOTE=AlfredSokol]Maybe they think it will be the next big vacation spot.[/QUOTE] I don't think many American's will be visiting in the future... Well, scratch that. Not the American's they would want for tourism. He might find a few Marines in the future if he keeps his nuclear program going."

AlfredSokol said: "True enough. I did find this from [url=http://www.payvand.com/news/03/sep/1170.html]2003[/url] [quote] It also stressed that India has launched the highest number of investment projects in the Islamic Republic with a total investment of 5.5 million dollars. Germany and Turkey follow India in the second and third places. The center further stressed that the British American Tobacco (BAT) has invested 34 million dollars for producing cigarettes in Tehran over the same period. [/quote] Could be investment in industries that dont fly elsewhere."

Pb3190 said: "Industry that does not fly elsewhere may be right. I can't think of too many reasons to have a major company over there, other than oil, cheap labor and maybe very lax regulations."

AlfredSokol said: "I'm actually researching this now. I can't figure out why the foreign investment and the forex reserves are going up. I bet China has a lot to do with it. Of course Iran has some strange [url=http://www.irvl.net/foreign_investments_in_iran.htm]rules for investing[/url] in the Islamic Republic. Iran also has a [url=http://www.ifi-co.com/]Foreign investment company[/url] f their own to manage investments outside of Iran using Iranian money."