{"id":6157,"date":"2018-11-26T05:13:55","date_gmt":"2018-11-26T05:13:55","guid":{"rendered":"http:\/\/en.azpar.com\/?p=6157"},"modified":"2018-11-28T05:16:42","modified_gmt":"2018-11-28T05:16:42","slug":"oil-exports-share-reduces-in-iran-fx-revenues","status":"publish","type":"post","link":"https:\/\/en.azpar.com\/?p=6157","title":{"rendered":"Oil exports share reduces in Iran FX revenues!"},"content":{"rendered":"

Market News<\/h2>\n

\u2013 The share of oil exports in Iran FX revenues has been reduced over the past few years which shows that the economy is now less dependent on oil sales. During the first 10 months of 2018, the share of\u00a0oil exports\u00a0reached below 48% of total FX revenues. This figure surpassed 80% decade. The dependence of Iran economy to oil exports heralds that the nation was successful in producing industrial goods to compensate for the reducing piece of the oil pie.\u00a0<\/span><\/p>\n

\u2013\u00a0World steel association\u00a0data shows that Iran steel production reached a new high during the first 10 months of 2018 stamping a 19% rise contrary to October 2017. Raw steel production of Iran jumped for 10.6% to 2.07 million tonnes. Moreover, the steel makers monthly performance report suggests, despite concerns over the nation\u2019s exports after\u00a0US sanctions snapback<\/a>, no threatening\u00a0reduction has happened so far.<\/p>\n

\u2013 Following the reduction of FX rates in the free market and with a lower level of policymaker meddling in the\u00a0NIMA platform,\u00a0data shows that the two rates are on a converging path after all. Now the anticipations on a\u00a0concentrated FX market has become more solid and the CBI\u2019s statements towards the matter indicate\u00a0relaxing positions.\u00a0Rumours have that officials are looking for a floating unified FX rate below USD\/IRR 10,000 level.<\/p>\n

In the Market<\/h2>\n

Equities extended their losses today in a session that only was driven by emotions and overreactions. The falling oil prices, despite a small rebound, was the main catalysts behind this massive plummet.\u00a0TEDPIX (-2.80%)<\/strong>\u00a0lost another of its technical support levels and closed\u00a0below\u00a0167K<\/strong>\u00a0while\u00a0IFEX (-3.43%)<\/strong>\u00a0performance was even more dramatic which led the index to\u00a01,800K<\/strong>\u00a0level.<\/p>\n

The oil-sensitive sectors of\u00a0Chemical (-3.62%)<\/strong>\u00a0and\u00a0Oil Products (-4.58%)<\/strong>\u00a0greatly underperformed the whole market and spread the fear amid other sectors as well in a way that even surprisingly better than expected monthly performance reports of some tickers could not hold against the massive flow of sellers.\u00a0Isfahan Mubaraka Steel (FOLD, -1.12%)<\/strong>\u00a0of the heavy weighted\u00a0Metals (-1.68%)<\/strong>\u00a0sector is a perfect pitch here as the company sold incredibly higher\u00a0amounts of products yet faced with gigantic sale queue at the opening bell.<\/p>\n

Agah data show the trend of money injection from the retail side has stopped and analysts\u00a0believe that tomorrow the market will face better situations.<\/p>\n

\"\"<\/p>\n

 <\/p>\n

\"Tehran<\/p>\n

\"\"<\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

\"Iran<\/p>\n

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

2018, Oil exports share reduces in Iran FX revenues!, Monday, Nov 26, p.1,<https:\/\/agahgroup.com><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Market News \u2013 The share of oil exports in Iran FX revenues has been reduced over the past few years which shows that the economy is now less dependent on oil sales. During the first 10 months of 2018, the share of\u00a0oil exports\u00a0reached below 48% of total FX revenues. This figure surpassed 80% decade. The […]<\/p>\n","protected":false},"author":4,"featured_media":6158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,28],"tags":[],"class_list":["post-6157","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\/6157","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=6157"}],"version-history":[{"count":3,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6157\/revisions"}],"predecessor-version":[{"id":6161,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/posts\/6157\/revisions\/6161"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=\/wp\/v2\/media\/6158"}],"wp:attachment":[{"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.azpar.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}