{"id":6060,"date":"2018-10-30T07:54:18","date_gmt":"2018-10-30T07:54:18","guid":{"rendered":"http:\/\/en.azpar.com\/?p=6060"},"modified":"2018-11-04T04:47:10","modified_gmt":"2018-11-04T04:47:10","slug":"iran-2019-20-budget-wraps-up-with-a-warning-status","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=6060","title":{"rendered":"Iran 2019\/20 budget wraps up with a warning status!"},"content":{"rendered":"

Market News<\/h2>\n

\u2013 Rumours have that Iran 2019\/20 budget is going to be based on a\u00a0$65 a barrel\u00a0of crude and USD\/IRR translation rate of 55,000.\u00a0The fear of losing more income in the wake of US final sanctions along with concerns of the nation\u2019s livelihoods and controlling\u00a0the unleashed inflation\u00a0made the task super challenging for the president Rouhani\u2019s administration.\u00a0<\/span>Final suggestions for the next year\u2019s budget bill shall be presented to the parliament until mid-November and setting the basics of revenues sources (FX translations and oil price) has the most influence on the economic status\u00a0in the days of sanctions.<\/p>\n

\u2013 Many sources stated that South Korea is seeking exemptions\u00a0on the US sanctions with regards to its oil purchases from Iran. US secretary of state announced that unless previous buyers of Iran oil commit to reducing their shipments, more than 20%, there would be no exemption\u00a0for them. Moreover, it seems that the development of \u201cChabahar Port\u201d, which counts as the artery for development of Afghanistan as well, might be subjected to sanctions exemption in order to fulfil US interests. The below table shows details of Iran oil exports during the last couple of months:<\/p>\n

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\u2013 After its Sunday meeting in Abu Dhabi, it was revealed that Iran has two sits in FEAS board for another board term. Iran Fara Bourse and CSDI will sit on\u00a0Federation of Euro-Asian Stock Exchanges along with Abu Dhabi, Kazakhstan, Armenian Nasdaq,\u00a0Oman, Greece, Egypt and Palestine.<\/p>\n

In the Market<\/h2>\n

Iranian equities experienced another volatile session on\u00a0the Tehran\u00a0Stock Exchange after the other day\u2019s rally recouped a good chunk of the exchange monthly losses.\u00a0TEDPIX (+0.08%)<\/strong>\u00a0ended the sell\/buy battle with a narrow\u00a0victory while\u00a0IFEX (-1.08%)<\/strong>\u00a0had a worse day.<\/p>\n

The general market condition is in a state of wonder just days before the deadline of US sanctions and that made investors be cautious\u00a0with their trades. Moreover, the weight of false anticipations and wrong\u00a0interpretation of rumours broke the market back and shows the shallow depth of Iran Capital Market. Just a mischievous misreading of a proposed FX translation rate of\u00a0USD\/IRR 55,000<\/strong>\u00a0for the administration\u2019s\u00a0next year budget, which has nothing to do with the rate listed tickers are selling their products, made the day black for components of\u00a0Oil Products (-2.44%)<\/strong>\u00a0sector.<\/p>\n

Also, unformed news has that nearly all shipping lines of Iran are going to be suspended after November 04, 2018 which added the sale pressure in\u00a0Transportation (-1.58%)<\/strong>\u00a0sector. It is anticipated that until after this date, the market will continue its ping-pong play with a serious sensitivity to any political news regardless of fundamental analysis.<\/p>\n

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Source:<\/em><\/p>\n

2018, Iran 2019\/20 budget wraps up with a warning status!, Wednesday, Oct 31, p.1,<https:\/\/agahgroup.com><\/a><\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 Rumours have that Iran 2019\/20 budget is going to be based on a\u00a0$65 a barrel\u00a0of crude and USD\/IRR translation rate of 55,000.\u00a0The fear of losing more income in the wake of US final sanctions along with concerns of the nation\u2019s livelihoods and controlling\u00a0the unleashed inflation\u00a0made the task super challenging for the president […]<\/p>\n","protected":false},"author":4,"featured_media":6061,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28],"tags":[],"class_list":["post-6060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-news"],"_links":{"self":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6060","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6060"}],"version-history":[{"count":3,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6060\/revisions"}],"predecessor-version":[{"id":6064,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6060\/revisions\/6064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/6061"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}