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Due to the unstable political situation, the stock market is still in a volatile downward trend. Since the beginning of June, 320.3 billion tomans have been withdrawn from the market.
According to Khabaronline, uncertainty about the economic policy of the new caretaker government of the Islamic Republic of Iran and investors’ concerns about the prospects of businesses and the Iranian economy have increased the rate of capital outflows. “The stock market is experiencing a negative and ambiguous trend,” the website reported.
Furthermore, Duniya Ekhtaz newspaper reported that the stock situation on Sunday, June 20, “showed continued excitement among sellers” and that the number of sales queues had surged again.
According to this newspaper, 3 trillion yuan of funds have withdrawn from the market since the beginning of June, indicating that buying stocks is not popular among traders under the current situation, “so the value of small transactions has remained at a low level. The level is higher than the average level at the beginning of the year.”
In addition to the volatility in the stock market, the ambiguity of the country’s political future; other markets have also caused traders to remain cautious, “even managing to pull down stock market indices in recent days and move the prices of the free dollar and gold away from a more mature and analytical environment.”
According to the World Economy, before the death of Ibrahim Raisi and the early government elections, the issue of the “dollar exchange rate” was one of the determining factors in the market, but with the decline in the stock market in the past few weeks, some experts believe that “in the short term, the rise in the dollar exchange rate cannot bring new spirit to the market.”
The survey showed that “even if the Nima yuan enters the channel of 42,000 tomans”, it will not be able to put the stock market into an upward cycle, and “until the internal political situation of the country can be stabilized and see a positive effect.”
Meanwhile, the price of the Liberty Dollar is moving cautiously.
The “unprecedented” fall in the stock market over the past few weeks, which has caused most signs to turn negative in the past few days, according to economic experts, has led to union strikes, while domestic media reported that some activists, including in Isfahan and Shiraz, have stopped working.
The “Tjarat News” website described the state of stock exchange trading on Monday, June 7, as “bloody” and reported that capital market trading was “at the bottom of the historical channel in terms of trading volume and value.”
Sources also reported that in addition to the Isfahan and Shiraz stock market strikes, the Tehran and Tabriz stock markets were also in a “critical situation” and “also joined the strike.”
“The money that is leaving the stock exchange is looking for a safe place, and that safe place is where currencies or coins and gold are bought and sold internationally,” Ahmed Allawi, an economist living in Sweden, told VOA in an interview about the impact of tensions and war in the region on Iran’s economy and stock market.
“If tensions in the region do not cease, the stock market situation will also fall further,” the economic expert said.
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