IME Trade Value at All-Time High

Trade value at Iran Mercantile Exchange hit 1.03 quadrillion rials ($23 billion) during the first 11 months of the current fiscal year (March 21-Feb. 19), marking a 39% year-on-year growth and reaching an all-time high, IME’s CEO Hamed Soltani-Nejad said on Sunday.  Commodity trade in the physical market accounted for 446.35 trillion rials ($9.91 billion) of the total figure, showing a 33% YOY growth. Trade value at IME’s derivative market grew 61% to 579.14 trillion rials ($12.86 billion). Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. IME’s trade value stood at 817 trillion rials ($21.78 billion) during the previous fiscal year (March 2016-17), accounting for 6.5% of Iran’s gross domestic product. Last year’s trade value outperformed Tehran Stock Exchange by more than 182 trillion rials ($4.85 billion).