TEHRAN, Sept 16, 2018 (BSS/AFP) – Tehran stocks closed at an all-time high
on Saturday after five days of consecutive gains despite the collapse of the
Iranian rial.
The market’s main index, TEDPIX, closed up 1.97 percent to reach 158,119.2
points.
Prices have been on the rise at the Tehran Stock Exchange for the past
three months, with the rial’s fall against the US dollar having hiked export
revenues for petrochemical and base metal firms.
TEDPIX has gained close to 65 percent over the past six months, around
five percent less than the amount that the rial has lost against the dollar
in the past year.
The rial has been falling under increased hostility from the United States
and the impact of its withdrawal in May from the 2015 nuclear deal.
Washington reimposed a first round of sanctions on Iran in August and
another set is to follow in November.