The euro was traded for 160,000 rials, up from Sunday's 156,000 rials. Governor of the Central Bank of Iran Abdolnasser Hemmati on Sunday had stressed the need for a stable forex market as a prerequisite for businesses to plan their future course of action in a calm economic environment.
He said the current forex rates are far from" real" and would not last long.
The gold coin is also in the midst of a fresh rally. The benchmark Bahar Azadi gold coin gained 1.65% on Monday to change hands at 49.40 million rials ($353). Bullish forex rates tend to stimulate the stock market where export-based firms have a heavy presence, Financial Tribune reported.
Stocks Rally
After recording 86% return on investment during the previous financial year (ended March 20) for its main index TEDPIX, the Tehran Stock Exchange continues to grow in the Persian New Year.
Tehran Stock Exchange main index TEDPIX gained 518.90 points or 0.28% on Monday to end trading at 188,592.7.
About 3.26 billion shares valued at 10.18 trillion rials ($73.23 million) changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Persian Gulf International Transportation Company was the biggest winner as its shares went up 40.33% to 2,321 rials per share.
Pars National Agriculture and Farming Company incurred the biggest loss among all TSE-listed companies and went down 4.93% to 9,764 rials per share.
Esfahan Oil Refining Company and Tehran Oil Refining Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company and Bandar Abbas Oil Refining Company.
Bank Mellat contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company and Golgohar Mineral and Industrial Company.
The Price Index gained 149.69 points to close at 54,387.5. First Market Index was up 546.59 points to post 140,579.6. Second Market Index increased by 266.59 points to reach 367,774.6.
The Industry Index went up by 645.15 points to register 169,755.2. Free Float Index was up 502.38 points to register 212,388.85.
The TSE 30 went up 18.81 points to settle at 9,320.9 and the TSE 50 ended 20.61 points lower to finish at 8,008.0.
IFX Up 0.08%
Iran Fara Bourse’s main index IFX gained 1.88 points or 0.08% to close Monday trade at 2,412.42.
About 1.2 billion securities valued at $35.59 million were traded at the junior exchange for the day.
Sina Port and Maritime Company and Kerman Province Development Investment Company registered the highest value increase.
Marun Petrochemical Co., Isfahan Steel Company, and Shiraz Oil Refining Co. had the most positive impact on IFX.