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Iran will undertake a new measure to contain foreign-backed shocks against its economy with operationalizing the long-anticipated initiative of Integrated Currency Market by mid-August.

Head of Iran'.s Ports and Maritime Organization announced that his country’s ports have witnessed a 19.6 percent rise in trans-shipping goods in the 4-month span up to July 22.

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati boasted his country’s victory in thwarting foreign-backed economic conspiracies against Tehran. stressing that the plots to devaluate the national currency of rial have effectively failed.

A new report is showing that the month-on-month inflation rate in Iran is curbing. while at the same time the country’s national currency is regaining lost value against the US dollar.

To resolve the stand-off. Iran is considering sending fuel to the stranded ships.

Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz. stoking concern crude flows from the Middle East may be disrupted.

The Iranian national currency of rial is 118.000 against the US dollar which shows a relatively high regain of value compared to months of low that followed American introduction of crippling economic sanctions against Tehran.

French car makers Renault and Peugeot have posted a slump in first-half vehicle sales. mainly because of their withdrawal from Iran under threat of US sanctions.

The price of oil spiked just minutes after Tehran seized a foreign vessel which was smuggling one million liters of fuel near Larak Island in the Strait of Hormuz off Iran’s coast.

Slowing oil demand growth and a persistent global glut will cap oil prices and keep them from rising too much.