{"id":4229,"date":"2018-01-22T07:49:18","date_gmt":"2018-01-22T07:49:18","guid":{"rendered":"http:\/\/en.azpar.com\/?p=4229"},"modified":"2018-01-24T08:24:45","modified_gmt":"2018-01-24T08:24:45","slug":"usd-irr-battel-on-irans-economy","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=4229","title":{"rendered":"USD\/IRR Battel on Iran\u2019s Economy!"},"content":{"rendered":"

Market News<\/strong><\/h2>\n

\u2013 Following the recent FX upward trend in\u00a0Iran\u2019s Economy, the\u00a0USD\/IRR\u00a0started a rally on Sunday to surpass 46,400 level, going up by IRR 950, pushing the IRR towards record lows falling 1.4% just in a matter of few days. Euro and British Pound also took a hike against IRR to stand at 58,500 and 63,390 levels respectively. Analysts attribute such a sharp rise, with global markets closed, to\u00a0USD fluctuations\u2019\u00a0effect on other currencies. With the two out of the 3 major factors affecting the foreign exchange rate in Iran, i.e. crude oil price, GDP and money supply growth, increasing, it seems that the money supply is pressuring the forex market the most.<\/span><\/p>\n

\u2013 Following the proposal of\u00a0Iran budget and plan organization\u00a0along with two ministries of oil and economic affairs, President Rouhani\u2019s cabinet approved the issuance of new\u00a0Sukuk<\/a>\u00a0Salam securities worth IRR 40,000 bn (cUSD 879 mn) on\u00a0Iran Energy Exchange\u00a0with proceeds dedicated to meet the needs of Iranian Subsidies reform plan.<\/p>\n

\u2013 The\u00a0Statistical Center of Iran\u00a0announced the 8.2% increase in the Goods and Services Price Index for the 12 months ended January 20th<\/sup>, compared with the same period last year. The urban and rural inflation stood at 8.1% and 9.2%, respectively, with the former showing a 0.2% increase while the later remained unchanged.<\/p>\n

\u2013 According to an official in the Iran-Iraq Chamber of Commerce, Iran has exported commodities, mostly food, agriculture products, construction materials and steel, worth $5 bn since the beginning of the current Persian calendar year; Iran\u2019s share of Iraq\u2019s market hovered around 20% in 2016\/17, which brought about the export of $6.1 bn worth of products to this country, then.<\/p>\n

In the Market<\/strong><\/h2>\n

The TEDPIX climbed by 408.30 points today, influenced mostly by the heavily weighted Chemicals space; the US\/IRR recent rally has been the major driver in several sectors in today\u2019s session.<\/p>\n

Fueled by higher US dollar and urea prices, the\u00a0Chemicals<\/strong>\u00a0industry continued its upward movements, mostly by its petrochemical companies such as Khorasan, Kharg and Kermanshah Petrochemical companies hitting their highs.<\/p>\n

A positive sentiment was also detected in the\u00a0Iron Ore<\/strong>\u00a0space; Iran Manganese was the only name facing a buy queue. A block trade, made of up 181 mn shares worth IRR 340 bn, was done on Mines & Metals Development in the retail market as well.<\/p>\n

The\u00a0Automotive<\/strong>\u00a0space started the session in the red. Iran Khodro and Iran Khodro Investment Development, however, entered the green zone in the middle of the session; it seems that these two will continue fluctuating until its block trade is done on January 21st<\/sup>. Zar Spring Mfg. and Electric Khodro Sharq touched their ceilings.<\/p>\n

The\u00a0Transportation<\/strong>\u00a0space also settled with balanced trades, led by Rail Pardaz-e Seir; the company saw a rise in demand. Estimating to make IRR 76 EPS for its FY, it has realized 79%, equal to IRR 60 in the 9-month period, whereas it had realized 82% in the same period last year. While its operating income and profit have seen a 35% and 33% decline, its non-operating income has grown from IRR 3 bn to IRR 45 bn, which along with its tax exemption, has resulted in the 33% rise in its EPS; the company\u2019s wagons will enter the country until the end of the year. Tidewater-e Khavar Miane was another symbol going up by 4%; IRI Shipping Lines and Persian Gulf International Transportation, although, shed more than 4%.<\/p>\n

\"Iran\u2019s<\/a><\/p>\n

\"Iran\u2019s<\/a><\/p>\n

\"Iran\u2019s<\/a>\"Iran\u2019s<\/a><\/p>\n

Source:<\/p>\n

2018, USD\/IRR Battel on Iran\u2019s Economy!, Monday, January 22, p.1,<https:\/\/agahgroup.com<\/a><\/em>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 Following the recent FX upward trend in\u00a0Iran\u2019s Economy, the\u00a0USD\/IRR\u00a0started a rally on Sunday to surpass 46,400 level, going up by IRR 950, pushing the IRR towards record lows falling 1.4% just in a matter of few days. Euro and British Pound also took a hike against IRR to stand at 58,500 and […]<\/p>\n","protected":false},"author":1,"featured_media":4233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-4229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news","category-news-events","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4229"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4229\/revisions"}],"predecessor-version":[{"id":4264,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/4229\/revisions\/4264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/4233"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}