inter@agah.com | (+98)21-82154469 & (+98)21-82154470 (Saturday to Wednesday, 8:00-17:00 IRST)
  • Home
  • Market Data
    • Fact Sheets
    • News & Reports
    • Debt Market
  • Blog
  • Brokerage
    • Trading License Application
  • Asset Management
  • Advisory
  • Investment Banking
  • Alternative Investment
  • FAQ
  • Home
  • Market Data
    • Fact Sheets
    • News & Reports
    • Debt Market
  • Blog
  • Brokerage
    • Trading License Application
  • Asset Management
  • Advisory
  • Investment Banking
  • Alternative Investment
  • FAQ

Blog

Home/News & Reports/Iran Central Bank; will the FX market be in the right order? – Daily Market News
Iran Central Bank

Iran Central Bank; will the FX market be in the right order? – Daily Market News

By Mojde Rezaee: 21 February 2018in News & Reports No Comments

Iran Central Bank; will the FX market

be in the right order?

Market News

– Iran Central Bank managed to control the forex market fluctuations through offering its rescue package over the past week. While some economists believe that such a package will act as a proper tool to relax the current fluctuations and enable the policy maker to implement its reform plans free from irrational behaviors, there are some disagreeing with high interest rates, even for a temporary and short period of time. In other words, the first group believe that lowering such a rate by decree will not yield the proper result the policy maker is looking for while the other group say that the current CBI supervisory structure and not-respecting health indices by banks will push them towards old days, paving the way for un-regulated financial institutions re-gaining power in the market. However, what is common between those for and against the CBI directive lies within the temporary nature of this solution, which will only act as a painkiller and the need to address the structural reforms in monetary and financial areas ASAP.

–  After news on the biggest financing schemes of all time for Auto Sector, the CEO of Tamadon Investment Bank announced for IRR 1,000 bn (cUSD 22 mn) worth of Sukuk Salam issuance on Iran Mercantile Exchange, meeting the working capital needs of Iran refractory coating expanded polystyrene company. Paying no coupons, the new securities are to reward investors with an annual 18% yield at maturity (applying its underlying put/call options or through a physical delivery) and has a pre mature redemption rate of 17%.

– The Statistical Center of Iran put the goods and services inflation at 8.3% over the 12 month ended February 19th, with urban and rural inflation rates standing at 8.2% and 9.1%; while the first 2 rates have registered a 0.1% increase, the rural areas inflation rate shows a 0.1% decline in comparison with the statistics of the previous month.

– Today, 1,000,000 securities of a new Islamic Treasury Bill worth IRR 18,000 bn (cUSD 395.43 mn) has been publically offered on Iran Fara Bourse to continue the streak of government liabilities settlement. TB241 has a maturity of 2 years and priced at IRR 702,001, which made the YTM and BEY 19.89% and 18.28% respectively.


In the Market

Iran equities ended the abbreviated week on a flat note, with the TEDPIX and the IFEX breaking their previous winning streaks. TSE gained slim today (0.01%) while IFB lost -0.1%. Trades were choppy for much of the session as the last business day placed amid two national holidays.

The Statistical Center of Iran announced the 17.9% rise in construction permits issued in Tehran over the H1 of the current year. Tickers in the Construction industry went through balanced trades.

Nearly the entire Automotive group saw a rise in demand with Saipa Diesel, Mashhad Wheel Mfg. and Mehvarsazan Iran Khodro facing buy queues early in the session. Announcing to apply a 28% negative EPS adjustment, Iran Khodro Diesel ticker was halted; the company increased its loss prediction from IRR 1273 to IRR 1627. Saipa Company’s CEO also announced their plan to increase production in Saipa Diesel aimed at renovating the worn-out heavy vehicle fleet along with closer cooperation with VOLVO Company, in his sitting with Swedish ambassador to Iran.

Such positive movements resulted in the Saipa Investment Company, listed on the Investment space, to close with a buy queue. Tose’e Melli Investment and Tadbirgaran-e Fars va Khouzestan Investment also went up more than 4%.

Bama Company’s board of directors have proposed a 100% capital raise plan based on investors’ paid-in capital and claims due. Gol-e Gohar Mineral & Industrial as well as Bafq Mines on the Iron Ore space were highly demanded.


Iran Central Bank


Iran Central Bank


Iran Central Bank


Iran Central Bank

DISCLAIMER:  This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice. 

To contact reporters: Inter@agah.com

Share this article
0
0
0
Tags: Agah Brokerage Firm, Agah Group, Codal, IFB, Iran, Iran capital market, Iran Central Bank, Iran's economy, market overview, TSE

Written by Mojde Rezaee

International Affairs Expert

previous article

New wave of Corporate Sukuks on Iran Capital Market! – Daily Market News

next article

Iran SEO Ranks Brokerage Houses! – Daily Market News

Leave a Comment

Cancel reply

Categories

  • Blog
  • News & Reports

Useful Tags

Agah Brokerage Firm Agah Group Automotive Sector banking banking sector budget Chadormalu Mining and Industrial Company Codal Codal release construction Cultural Heritage Investment Group Daily Daily Market News EPS forecasted IFB inflation interest rate Iran Iran's economy Iran capital market Iran Economy Iran Fara Bourse Iran’s capital market Market Market Cap market overview Mellat Bank Mobin Petrochemical Co. News next year nuclear deal Nuclear Framework Agreement Petrochemical price to earning ratio Saderat Bank SEO Sina Chemical Industries Company Tehran Stock Exchange Trading Halts Trading Reopenings TSE TSE index value of trades volume of trades

Recent Posts

  • AGAH Mutual Fund Fact Sheet – February 2021 March 28, 2021
  • Iran Capital Market Monthly Wrap! – February 2021 February 28, 2021
  • Iran Capital Market Monthly Wrap! – December 2020 December 28, 2020
  • Iran Capital Market Monthly Wrap! – November 2020 December 8, 2020
  • Agah wins the FEAS champions league for the second term! November 29, 2020

Latest Comments

  • Priyanka on FDI and FPI investment climbing up – Daily Market Report
  • Behzad jamshed Karai on Central Bank of Iran on Amend
  • Switzerland is to dedicate a financial line to Iran humanitarian imports! | Accounting, Tax, Advisory, Assurance , Consultancy and Auditing Iran on Switzerland is to dedicate a financial line to Iran humanitarian imports! – Daily Market News
  • Money Supply figure reaches new highs in Iran Economy! | Accounting, Tax, Advisory, Assurance , Consultancy and Auditing Iran on Money Supply figure reaches new highs in Iran Economy! – Daily Market News
  • Iran Banking Sector needs almost 50% of GDP to revive! | Accounting, Tax, Advisory, Assurance , Consultancy and Auditing Iran on Iran Banking Sector needs almost 50% of GDP to revive! – Daily Market News

Contact Us

  • Agah Building, NO. 13, Pirooz St. Africa Ave, Tehran, IRAN
  • Tel: (+98) 21-82154469 and (+98) 21-82154470 (Saturday to Wednesday) | Fax: (+98)21-82154250
  • inter@agah.com
  • Persian
  • Persian Facebook Fan Page

Site Map

  • Home
  • Brokerage
  • Asset Management
  • Advisory
  • Investment Banking
  • Alternative Investment
  • FAQ
  • Newsletter

Partner in Research

  • Invest Direct

Customer Club

Bashgah.com

Copyright © 2015, Agah Group, All Rights Reserved.