{"id":5257,"date":"2018-05-14T13:43:36","date_gmt":"2018-05-14T13:43:36","guid":{"rendered":"http:\/\/en.azpar.com\/?p=5257"},"modified":"2018-05-14T14:02:16","modified_gmt":"2018-05-14T14:02:16","slug":"central-bank-of-iran-in-control-of-fx-market","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=5257","title":{"rendered":"Central Bank of Iran in control of FX market!"},"content":{"rendered":"

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

\u2013 In a meeting with the parliament members, the governor of the\u00a0Central Bank of Iran\u00a0provided the latest monetary and currency data on provision and allocation of resources to organize the\u00a0FX market\u00a0and\u00a0un-supervised financial institutes; he then announced the implementation of a new oversight model, which is based on EU standards; the said model will allow the kind of supervision where goals like monetary stability is sought.<\/span><\/p>\n

\u2013 Following\u00a0the Central Bank of Iran decision on forex rate unification, which put banks as intermediaries to manage and direct forex resources to those who need them,\u00a0Iranian banks\u00a0are now allowed to purchase hard currency from foreign tourists, diplomatic missions as well as representative offices of foreign banks; the purchase, however, must be approved by the\u00a0Organization for Investment, Economic and Technical Assistance of Iran.<\/p>\n

\u2013 Despite being halted for a long time on\u00a0Iran\u2019s capital market, Euromoney elected\u00a0Bank Ayandeh, listed with IRR 16,000 bn (cUSD 380.95) in capital on\u00a0IFB, as the excellent bank of Iran for 2018; it had been named as the Middle East\u2019s best bank transformation in 2017 as well.<\/p>\n

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

Following the fall of traders\u2019 interest in parallel markets like forex and gold coin, the TEDPIX has managed to stay in the green since the beginning of the current week with less sales pressure and more participation by individual clients; besides, different indices emitted signs of change in liquidity flow among different sectors. In fact, with less ambiguity over the fate of JCPoA along with price corrections, mostly in commodity-based tickers, the market seems to be free of such concerns.<\/p>\n

The\u00a0Metals<\/strong>\u00a0space finished today\u2019s session with good gains, led by Esfahan Steel touching its ceiling. It was so while the Iron Ore sector went through balanced trades. Official data register a 6% growth in metal exports by major Iranian steelmakers over the first month of the current year (March-April).<\/p>\n

Balanced trades were seen in the\u00a0Oil Products<\/strong>\u00a0group. The\u00a0Chemicals<\/strong>\u00a0space, on the other hand, closed in the green with many hitting their highs.<\/p>\n

Following the recent trend started in the\u00a0Construction<\/strong>\u00a0space, the majority of names in this group ended above their flat lines; having applied a %5 EPS adjustment, Kerman Province Civil & Development returned to the market at IRR 5,380, 2.7% higher. A similar sentiment dominated the\u00a0Cement<\/strong>\u00a0industry as well.<\/p>\n

Except from Khavar Spring Mfg. hitting its bottom, the majority of tickers in the\u00a0Automotive<\/strong>\u00a0industry faced buy queues mostly under pure speculative trades, although technically speaking, some symbols have become very interesting; however, the sector is not good fundamentally. In this regard, an official assured that the contracts made between Iranian automakers with their European counterpart will remain intact, although there might be some impediments ahead of funds transmission. In addition, automakers have asked for a 19.5% rise in vehicles prices. The production of vehicles has also registered a 17.5% growth in Farvardin (March-April).<\/p>\n

\"Central<\/a><\/p>\n

\"Central<\/a><\/p>\n

\"Central<\/a><\/p>\n

\"Central<\/a><\/p>\n

Source:<\/p>\n

2018, Central Bank of Iran in control of FX market!, Monday,May 14, p.1,<https:\/\/agahgroup.com<\/a><\/em>><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 In a meeting with the parliament members, the governor of the\u00a0Central Bank of Iran\u00a0provided the latest monetary and currency data on provision and allocation of resources to organize the\u00a0FX market\u00a0and\u00a0un-supervised financial institutes; he then announced the implementation of a new oversight model, which is based on EU standards; the said model will […]<\/p>\n","protected":false},"author":1,"featured_media":5261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28,31,1],"tags":[],"class_list":["post-5257","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\/5257","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=5257"}],"version-history":[{"count":4,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5257\/revisions"}],"predecessor-version":[{"id":5264,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/5257\/revisions\/5264"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/5261"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}