In Last Fiscal: Currency Returns Outperform

EghtesadOnline: A report by Tehran Chamber of Commerce, Industries, Mine and Agriculture shows the foreign exchange market recorded the highest return in the previous fiscal (March 2018-19) compared to a year earlier.

News ID: ۷۴۷۳۰۹

12 May 2019

The report said one USD on average traded at 107,830 rials in Tehran's open market during the aforementioned period – up 166% compared to the same period a year earlier when the greenback hardly fetched 40,450 rials.

A euro sold for 125,590 rials on average in the last year, registering 161.2% hike year-on-year.

The TCCIMA report, which compares the performance of several markets, indicates that the value of equities traded in the capital market during the last Iranian fiscal grew 161% compared to the previous fiscal, according to Financial Tribune.

It released data based on the base figure of 100 points in the year 2016-2017 (2016-17=100). Accordingly, the value of traded equities increased to 100.2 during the previous fiscal (2017-18) and jumped to 261.6 during the same period in the last fiscal (2018-19).

Likewise, the index for the number of shares also rose to 202.2 (based on 2016-17=100) in the last fiscal to register 103.8% annual growth.

During the aforesaid period, the benchmark Bahar Azadi gold coin on average sold for 33.8 million rials ($219) while it cost 12.9 million rials ($83.9) during the same period a year before. The figures reveal 161% hike YOY.

Likewise, each Emami gold coin was traded for 35.5 million rials ($230) during the period, up 168% compared to the period a year ago.

Homes in Tehran on average cost 82.2 million rials ($534) per square meter during the period under review, up 67.8% compared to the previous fiscal when a square meter sold for 49 million rials on average.

The consumer price index (CPI) in urban areas, based on 100 points in fiscal 2016-17, stood at 108.1 during 2017-18 and jumped to 136.9 during the same period in the last fiscal, indicating 26.6% growth YOY.

The CPI for Tehran was a bit higher at 139.3 during the period to register 28.8% annual growth.