Tehran Stocks Tumble in Wake of Foreign Exchange Volatility

Stocks sold off on Tuesday for a second session as investors digested the negative effects of the drop in foreign exchange rates. This comes as some analysts warn that the herd behavior of investors in response to forex fluctuations is not backed by fundamental reasons due to the multiple exchange rate system.
Since foreign exchange volatility last year led to the rial's steep fall, export-based companies have seen better revenues which has endeared their shares to  investors.