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Rial’s Devaluation Makes Room for Stocks Growth
Rial’s Devaluation Makes Room for Stocks Growth
Monday, May 14, 2018

Rial’s Devaluation Makes Room for Stocks Growth

The analysis of fluctuations in Tehran Stock Exchange and Iran Fara Bourse over the past decade shows that markets respond positively to greenback’s strengthening against the national currency, albeit with a certain lag
Monday, May 14, 2018

Rial’s Devaluation Makes Room for Stocks Growth

The market capitalization of companies listed on Tehran's two stock exchanges has dropped by about 33% in US dollar terms in the past 14 months due to the rial's sharp devaluation against the US dollar.
Yet the analysis of fluctuations in Tehran Stock Exchange and Iran Fara Bourse over the past decade shows that markets respond positively to greenback's strengthening against the national currency, albeit with a certain lag.
TSE and IFB's aggregate market cap stood at 3.85 quadrillion rials in the first month of the fiscal 2017-18 (started March 21). Considering the open market USD/IRR rate of 3,749 at the time, the cap stood at $102.6 billion.
Fast forward to today and the total cap is about 4.33 quadrillion rials, bringing the figure in USD terms to $68.7 billion.

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05/14/2018
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