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Middle East and Central Asia > Iran, Islamic Republic of

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Cover Choosing Exchange Regimes in the Middle East and North Africa
Choosing Exchange Regimes in the Middle East and North Africa
International Monetary Fund

Abstract

This paper reviews the exchange regimes of five emerging market countries in the Middle East and North Africa region-Egypt, Jordan, Lebanon, Morocco, and Tunisia-and one oil-exporting country-Iran-to see whether they need to consider adopting more flexible arrangements as they further open their economies to trade and capital flows.

Keywords:
MISC PUBS; Misc.; regime; exchange rate; country; exchange regime; interest rate; managed float; MENA country; a number of emerging market country; crawling peg regime; exchange regime choice; intermediate exchange regime; emerging market country; Exchange rate arrangements; Exchange rate flexibility; Exchange rates; Conventional peg; Currency markets; Middle East; North Africa; East Africa
Cover IMF Working Papers
Exchange Rate Regime Considerations in an Oil Economy: The Case of the Islamic Republic of Iran
Oya Celasun
This paper provides a brief overview of the evolution of exchange rate policy in the Islamic Republic of Iran from 1993 to 2002 and reviews the basic criteria for the choice of the exchange rate regime in the medium term. The analysis highlights the merits of an intermediate regime which would allow the authorities to smooth out excessive short-term exchange rate fluctuations while letting nominal exchange rate movements facilitate real exchange rate adjustments called for by major oil price shocks.
Keywords:
WP; exchange rate; rate; price; nominal exchange rate; market; Iran; exchange rate regime; real exchange rate; oil; exchange rate volatility; TSE rate; exchange rate difference; system of the Islamic Republic of Iran; fixed-but-adjustable rate regime; exchange rate movement; choice in the context; exchange rate peg; Exchange rates; Exchange rate arrangements; Exchange rate flexibility; Real exchange rates; Currency markets
Cover IMF Working Papers
The Parallel Market for Foreign Exchange in an Oil Exporting Economy: The Case of Iran, 1978-1990
Mr. Adnan Mazarei
This paper provides a model for the determination of the parallel market exchange rate premium in a country where oil export earnings accrue directly to the government, and foreign exchange is centrally allocated for the importation of specific goods. Next, it studies the parallel market for foreign exchange In the Islamic Republic of Iran during the period 1978-90. The paper then examines the various time series properties of parallel market exchange rate in Iran, and the evidence of the role of oil and non-oil exports in the determination of the parallel market premium.
Keywords:
WP; exchange rate; market premium; market rate; market clearing condition; predictable pattern; foreign exchange board; exchange rate system; Multiple currency practices; Exchange rates; Currency markets; Oil exports
Cover Issues in International Exchange and Payments Systems
Issues in International Exchange and Payments Systems
Peter J. Quirk

Abstract

The global trend toward lilberalization in countries international payments and transfer systems has been widespread in both industrial and developing countries and most dramatic in Central and Eastern Europe. Countries in general have brought their exchange systems more in line with market principles and moved toward more flexible exchange rate arrangements. This study updates previous studies published under the title Developments in International Exchange and Payments Systems.

Keywords:
WEFS; center; market; liberalization; payments arrangement; exchange rate; spot exchange market; balance of payments crisis; exchange regime; IMF mission; Exchange restrictions; Exchange rate arrangements; Capital flows; Exchange rates; Eastern Europe; Southern Africa; Africa; Middle East; Baltics