Persan
August 31st, 2007, 06:45 PM
$1.5b investment in Iran's Airports
"A total of one billion dollars has been allocated for Imam Khomeini
International Airport and the remaining $500 million will be spent on
development of other airports."
Full Article (http://www.presstv.ir/detail.aspx?id=21281§ionid=351020102)
shugs
August 31st, 2007, 09:12 PM
So... A new IKIA terminal? Or just improvements...
Rahmani
September 1st, 2007, 09:26 PM
Why do they still put everything in USD and not EURO or another currency?
Persan
September 2nd, 2007, 01:26 AM
Why do they still put everything in USD and not EURO or another currency?
Perhaps it's easier to understand? I for one don't know the value of the EURO, and most people (outside of Europe) don't either!
Rahmani
September 2nd, 2007, 10:27 AM
The current exchange rate.
1 USD = 9,072.70 / 9,439.90 Rial (bid/ask)
1 EURO = 12,380.1 / 12,882.3 Rial (bid/ask)
1 Euro = 1.36454 / 1.36466 USD (bid/ask)
In November 2005, 1 Euro was around 1.165 USD. In less than 2 years the USD has lost 17% of its value. The expectations are that it will lose another 2% to 5% by the end of the year, reaching anywhere between 1,39 and 1,43 by the end of 2007. A huge fall since the value of around 0,95 in 2002.
17% of 1.5 billion is 255 million USD. A lot of money.
Based on the currencies and estimated currency progress, it would not be wise to invest the money in USD.