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Trump speech positive effects on Iran market

Trump speech positive effects on Iran market
ID : N-440 Date : 2017/10/14 - 13:08

(Persia Digest) - While some experts expected Iran’s financial market to collapse after Trump's speech yesterday decertifying Iran’s nuclear deal, the JCPOA, the Tehran market was up by more than 500 points today to surge into a bull market.

A noteworthy rise could be seen in the prices of the automotive group which had been severely affected by pre-JCPOA sanctions to become one of the most vulnerable industries in the country. This indicates not only a lack of dread by Trump’s speech about Iran on 13 October 2017, but more importantly shows that market concerns have decreased. According to stock market trades on Saturday, experts evaluate the stock exchange response to the recent Trump speech as positive.

With a surge of over 519 points, Tehran’s Stock Exchange index has reached a daily trading value of 85263 by the time this article was released.

The price of the US dollar also fell on the free market in Iran. Now, every dollar on the Tehran market is down by 50 rials as compared to Thursday, being sold for 4012 tomans.

So it seems that Trump’s speech on 13 October has not created a bear market in Iran. This may be the strongest indication yet that the US may not be able to leave the Iran nuclear deal signed between Iran, the EU and the US unilaterally.

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