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Low oil price likely affect Iran's capital market

Oil&Gas Materials 20 October 2014 17:49 (UTC +04:00)

Baku, Azerbaijan, Oct. 20

By Dalga Khatinoglu - Trend:

More decrease in oil price will affect Iran's capital market.

Homayoon Darabi, an expert on Stock Market told ILNA that petrochemical industry counts 40 to 42 percent of the country's total capital market and if the oil price continues to drop, it will lead to the fall of the index in the capital market.

"The price between $80 to $90 per a barrel of crude oil wouldn't damage the capital market seriously, but $80 or less can bring index drop due to decreasing petrochemical products worth," he said on Oct.20.

Capital markets are financial markets for the buying and selling of long-term debt or equity-backed securities.

Iran's petrochemical products' worth was about $20 billion, which of $9 billion exported last year.

Iran's capital market worth is about $156 billion (Based on USD exchange rate in open market, Each USD: 31,000 rials).

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