Iran Capital Market stamped record highs in trading value!
– Agah Group analysis shows that during the first 9 trading days of Mordad month (Jul-Aug 2018) the total trading volume of Iran Capital Market (all markets together) reached an astonishing figure of USD 1,136 mn (IRR 50,074,546,066,200) which herald a new wave of optimism and prosperity for the market. The below chart is showing the detail of trading volume by each market separately.
Iran Economy looks for a free market FX rate!
– In a Resilient Economy committee meeting held the other day, the first VP of president Rouhani has announced that a brand new FX policy is on its way for Iran Economy. Stressing that the current economic situation is not permanent, he stated that the essential goods shall be provided at a subsidized USD/IRR rate of 42,000 while other sectors may enjoy a free market rate determined by the FX secondary market.
Iranian Banks sell their equity stakes on Tehran Stock Exchange!
– Central Bank of Iran announced that due to a directive ratified by the head of powers, Iranian Banks shall sell all their equity stakes in businesses other than banking on Tehran Stock Exchange. According to this bylaw, banks shall give up their own or even their subsidiaries +50% stake to non-banking entities in a matter of 3 years and through Iranian Stock Exchanges.
No more import orders at USD/IRR 42,000 on NIMA platform!
– Unofficial news has that import order placements are no longer available on NIMA platform by importers in order to have their required FX dedicated to. After some recent misusage of USD/IRR at the subsidized rate of 42,000, it seems all the previous unattended orders are now open for scrutiny and new ones are banned for now until after further notices. USD/IRR has reached to more than 10,000 on streets which made the policy-maker to think harder on its FX policies.
CBI is to launch the first Iranian national cryptocurrency!
– In an attempt to bypass the effect of US sanctions, the central bank of Iran is to launch its very first Iranian national cryptocurrency by the end of September 2018. This the first official response that CBI made with regards to the issue which will make the bed further development of Iranian FinTech startups and firms.
Iran housing sector will perform a tax surgery!
– In order to tame the unleashed growth of real estate market which led to unreasonable prices in Iran housing sector, the cabinet members are to ratify a directive, using tax leverages, to maintain the situation and force landlords to empower the supply side. The urban and housing ministry seeks the following goals by this directive:
Iran Economy future inflation analyzed by Agah Group!
– According to Iran’s Statistics centre data, the monthly point to point inflation rate of the Iranian economy (Jun-Jul 2018) reached 13.8% and broke its single digit pattern of recent years. The inflation rate of Tir month (Jun-Jul 2018) also hiked to 4.4% which showed a meteoric rise contrary to other months.
Justice shares to be offered on Iran Capital Market!
– Privatization Organization of Iran announced that in a bill offered to the parliament it is suggested that Justice shares should be freed and tradable on Iran Capital Market in from on an ETF. This idea would eventually lead to the elimination of provincial investment companies.
Iranian Parliament passes FATF related amendments!
– In the unofficial news, it seems that the Iranian Parliament is firm to pass the FATF related amendments after all. Rumours have that subsequent to the reforms made by the guardian council, the parliament has passed today the amendment with 11% more votes “Ay” on this controversial directive.