TSE surge indicates Iran economy on right track

Business Materials 21 October 2017 17:51 (UTC +04:00)

Tehran, Iran, October 21

By Mehdi Sepahvand – Trend:

The fact that Tehran Stock Exchange (TSE) has started this week with a new record shows that it has been placed on the right track and hopes are it will continue to do successfully in the future as well, a monetary market expert believes.

On Saturday, the starting day of the week in Iran, the TSE’s main index hit a new record of 84,430 by rising 663 points.

This new record was unprecedented in the past 45 months in the TSE.

This new record is especially noteworthy in light of last week’s threat to the Iranian business and monetary markets posed by a new Iran strategy of the United States, Mohammad Barzegar told Trend October 21.

On October 13, US President Donald Trump refused to rectify the Iran deal of 2015, aka JCPOA, paving the way for new sanctions against Iran.

However, later the US administration said the to-be restrictions will not pose any threat to economic ties of international businesses with Iran.

In the days to Trump’s Iran strategy announcement deal, the TSE recorded a downward trend.

In the October 21 workday, however, 662 million bonds worth 1.87 trillion rials ($54.5 million) were traded at TSE.

The value of the capital market also stood at 3.47 quadrillion rials ($101 billion).