Shares Continue Winning Streak
Tehran Stocks rallied on Monday as the unprecedented surge in currency rates continued to boost investor sentiments over future rise in share prices.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 40,000 points, climbing 3.12% to extend a winning streak into the sixth day. TEDPIX closed trading session at 1,341,531 points.
As seen in previous sessions, the rally was led by large-cap shares largely in steel, base metal, refinery and mineral companies.
bit.ly/3erl4KN
@fintribune
Tehran Stocks rallied on Monday as the unprecedented surge in currency rates continued to boost investor sentiments over future rise in share prices.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 40,000 points, climbing 3.12% to extend a winning streak into the sixth day. TEDPIX closed trading session at 1,341,531 points.
As seen in previous sessions, the rally was led by large-cap shares largely in steel, base metal, refinery and mineral companies.
bit.ly/3erl4KN
@fintribune
Consumer Inflation at 27.8%
The average goods and services Consumer Price Index in the 12-month period that ended on June 20 increased by 27.8% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on May 20, at 29.8%.
Consumer inflation for the month under review (May 21-June 20) registered a year-on-year increase of 22.5% compared with the similar month of previous Iranian year. The year-on-year inflation of the month ending May 20 reached 21%.
bit.ly/37Vgimy
@fintribune
The average goods and services Consumer Price Index in the 12-month period that ended on June 20 increased by 27.8% compared with the corresponding period of last year, latest data released by the Statistical Center of Iran show.
SCI had put the average annual inflation rate for the preceding Iranian month, which ended on May 20, at 29.8%.
Consumer inflation for the month under review (May 21-June 20) registered a year-on-year increase of 22.5% compared with the similar month of previous Iranian year. The year-on-year inflation of the month ending May 20 reached 21%.
bit.ly/37Vgimy
@fintribune
Capital Flows Into Share Market
Iran’s share market is booming on the back of huge inflow of fresh money and a substantial increase in investors in the past three months.
The managing director of Securities and Exchange Organization Hassan Qalibaf-Asl told a press conference Monday that 500 trillion rials ($2.5 billion) in fresh capital flowed into stocks during the first quarter of the current fiscal year that started in late March.
This figure is staggering compared to the money inflow throughout the last fiscal year that reached 300 trillion rials ($1.5 billion), Qalibaf-Asl was quoted as saying by ISNA.
bit.ly/2V7zt7v
@fintribune
Iran’s share market is booming on the back of huge inflow of fresh money and a substantial increase in investors in the past three months.
The managing director of Securities and Exchange Organization Hassan Qalibaf-Asl told a press conference Monday that 500 trillion rials ($2.5 billion) in fresh capital flowed into stocks during the first quarter of the current fiscal year that started in late March.
This figure is staggering compared to the money inflow throughout the last fiscal year that reached 300 trillion rials ($1.5 billion), Qalibaf-Asl was quoted as saying by ISNA.
bit.ly/2V7zt7v
@fintribune
The Bell Tolls for Cheapest Housing Ownership Mortgage
Registration for new applications for Bank Maskan’s Housing Saving Account mortgage initiative closed on June 8, 2020.
“Despite our recent correspondence with the Central Bank of Iran, the monetary policymakers have not announced a decision on whether the agent bank of Iran’s housing sector is allowed to continue with the homeownership banking scheme or not,” Mohammad Hassan Moradi, a senior official with Bank Maskan, said on Wednesday.
Housing Savings Account initiative, launched on June 8, 2015, was scheduled to remain operational for five years with the aim of providing first-time homebuyers with loans at cheaper lending rates compared to all other loans offered by banks and lending institutions.
bit.ly/2YXccWS
@fintribune
Registration for new applications for Bank Maskan’s Housing Saving Account mortgage initiative closed on June 8, 2020.
“Despite our recent correspondence with the Central Bank of Iran, the monetary policymakers have not announced a decision on whether the agent bank of Iran’s housing sector is allowed to continue with the homeownership banking scheme or not,” Mohammad Hassan Moradi, a senior official with Bank Maskan, said on Wednesday.
Housing Savings Account initiative, launched on June 8, 2015, was scheduled to remain operational for five years with the aim of providing first-time homebuyers with loans at cheaper lending rates compared to all other loans offered by banks and lending institutions.
bit.ly/2YXccWS
@fintribune
Iran Sees 41% Decline in Trade With Top Partner China
Iran’s commercial exchanges with its biggest trading partner China stood at $6.4 billion during the first five months of 2020 to register a 41.3% decline compared with the corresponding period of 2019.
financialtribune.com/node/104086
@fintribune
Iran’s commercial exchanges with its biggest trading partner China stood at $6.4 billion during the first five months of 2020 to register a 41.3% decline compared with the corresponding period of 2019.
financialtribune.com/node/104086
@fintribune
Central Bank of Iran Again Raises Interbank Deposit Rate
In bid to further narrow the rate spread in the interest rate corridor (IRC) the Central Bank of Iran announced that it would raise rates on interbank deposits by 1 percentage points to 13% starting today (Saturday).
This comes after almost a week since the CBI increased the rate at which central bank takes deposits from banks, from the previously 10% to 12% now.
The development is in line with CBI monetary policy to control inflation through open market operation and the IRC.
IRC is a system for guiding short-term market interest rates towards the central bank target/policy rate. It consists of a rate at which the central bank lends to banks (typically an overnight lending rate) and a rate at which it takes deposits from them (deposit rate).
bit.ly/2ZxZP3U
@fintribune
In bid to further narrow the rate spread in the interest rate corridor (IRC) the Central Bank of Iran announced that it would raise rates on interbank deposits by 1 percentage points to 13% starting today (Saturday).
This comes after almost a week since the CBI increased the rate at which central bank takes deposits from banks, from the previously 10% to 12% now.
The development is in line with CBI monetary policy to control inflation through open market operation and the IRC.
IRC is a system for guiding short-term market interest rates towards the central bank target/policy rate. It consists of a rate at which the central bank lends to banks (typically an overnight lending rate) and a rate at which it takes deposits from them (deposit rate).
bit.ly/2ZxZP3U
@fintribune
Major TSE-Listed Mining Firms' Sales Rise 55% to $1.9 Billion
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has released a new report on the sales of 72 heavyweight Tehran Stock Exchange-listed mining and mineral companies.
According to the report, the aggregate sales volume of the firms under review stood at 388.43 trillion rials ($1.94 billion) during the first two months of the current fiscal year (March 20-May 20) to register a 55% rise compared with last year's corresponding period.
Their sales volume during the second month of the year (April 20-May 20) stood at 181.94 trillion rials ($909.7 million) to witness a 79% rise compared with a month before.
The mining and mineral firms constituted a 37% share of the total sales volume of all TSE-listed firms during the two-month period.
bit.ly/2YULoYj
@fintribune
The Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has released a new report on the sales of 72 heavyweight Tehran Stock Exchange-listed mining and mineral companies.
According to the report, the aggregate sales volume of the firms under review stood at 388.43 trillion rials ($1.94 billion) during the first two months of the current fiscal year (March 20-May 20) to register a 55% rise compared with last year's corresponding period.
Their sales volume during the second month of the year (April 20-May 20) stood at 181.94 trillion rials ($909.7 million) to witness a 79% rise compared with a month before.
The mining and mineral firms constituted a 37% share of the total sales volume of all TSE-listed firms during the two-month period.
bit.ly/2YULoYj
@fintribune
Ban on Export of Four Covid-19-Related Medical Products Lifted
The Ministry of Industries, Mining and Trade has lifted a ban on the export of serology kits, surgical-medical gowns, face shields and N95 facemasks.
Director General of the Islamic Republic of Iran Customs Administration's Export Affairs Division Ali Akbar Shamani has communicated the new directive to customs offices across the country.
Exports of protective medical items, including gloves, gowns and facemasks, as well as other materials, such as alcohol, scrubs, disinfectants, soaps and tissues, were banned as of early March when the country was struggling to meet the surging demand of domestic market driven by the spread of novel coronavirus.
bit.ly/3eXcALN
@fintribune
The Ministry of Industries, Mining and Trade has lifted a ban on the export of serology kits, surgical-medical gowns, face shields and N95 facemasks.
Director General of the Islamic Republic of Iran Customs Administration's Export Affairs Division Ali Akbar Shamani has communicated the new directive to customs offices across the country.
Exports of protective medical items, including gloves, gowns and facemasks, as well as other materials, such as alcohol, scrubs, disinfectants, soaps and tissues, were banned as of early March when the country was struggling to meet the surging demand of domestic market driven by the spread of novel coronavirus.
bit.ly/3eXcALN
@fintribune