Tehran Stock Index at Historic High
Tehran Stock Exchange (TSE) index hit 50,000 today, a historic high. The automaker SAIPA, synthetic fiber producer Polyacryl Iran Corporation, and Iran National investment Corporation were the market’s top movers. Also trending were Isfahan Oil Refining Company, Persian Gulf Petrochemical Industry Company, and Parsian Oil and Gas Development....MORE"As can be seen on the chart the market consolidated between......"
When last we looked at the TEPIX it was setting a record at 40,000 and the comment was:
...Between the sanctions and the easy money policy of the Central Bank's Governor, Dr. Mahmoud "Ben" Bahmani, claims on the means of production are rising in nominal value. (Index Mundi shows a 23.6% CPI estimate for 2012)...This appears to still be the case. Also from Uskowi on Iran:
Rial Loses Value as New Sanctions on Gold Trading Go into Effect
New U.S. sanctions against Iran, including a ban on gold trading, came in force today. Reacting to the new sanctions, the rial retreated against the dollar in Iran’s open currency markets. On Monday, the currency was traded at 34,000 rials for one dollar. In the days after Rouhani’s victory, the rial had regained some of its lost value, trading as low as 28,000 rials a dollar....MORE
