Azerbaijan, Baku, Jan. 2 /Trend/
Tehran's stock exchange index fell 77 percent today, 2 percent less than its fall yesterday, the Iran Labour News Agency (ILNA) reported.
The index has fallen the last few days as the price of stocks exchanged has totaled 178 million rials (about $15,000).
The public's lack of confidence in the market and fluctuations in the price of the dollar and other foreign currencies are some of the reasons for the plunge in the stock market.
The market's slide is expected to continue in the coming days.
As the United States and its allies ramp up efforts to impose further sanctions on it, Iran's economy is under increasing pressure.
On Saturday, the last day of 2011, U.S. President Barack Obama signed a law imposing sanctions against Iran's Central Bank. The new sanctions punish foreign institutions doing business with the Central Bank and essentially forces them to choose between doing business with Iran or the U.S.
The U.S. Congress granted Mr. Obama six months to impose the sanctions because the administration was worried about how they would affect the world's oil markets and economy.
Tehran’s stock exchange index falls 77 percent
Tehran’s stock exchange index fell 77 percent today, 2 percent less than its fall yesterday, the Iran Labour News Agency (ILNA) reported.