Forex, Iran’s Worst Performing Market Up Until July
A report published by the economic research department of Tehran Chamber of Commerce, Industries, Mines and Agriculture show that the currency market was the worst-performing market in the first four months (March 20-July 22) of the present fiscal year.
Comparing the average USD and euro exchange rate in the first four months with average rates of major currencies quoted last year, the TCCIM reported a 25.6% increase in the former and a 22.6% rise in the latter.
This is while indicators for other markets showed annual triple-digit growth rates during the same period. The report, available on the TCCIM website, reviewed the performance of forex, gold, real estate and capital markets based on data from the Central Bank of Iran.