TEHRAN: Iran’s stock market is thriving, despite US sanctions which have battered its economy and an uncertain future as geopolitical tensions soar in the Gulf.
The energetic 58-year-old said he had “seen it all” in three decades of trading at the exchange in central Tehran. Yet investors seemed unconcerned about tensions with Washington, which have escalated since US President Donald Trump unilaterally withdrew from a landmark nuclear deal last year and reinstated biting sanctions against Tehran.
That has caused runaway inflation, officially topping 52%, and the rial has nosedived against major foreign currencies over the past year.“Sanctions and political tensions have actually been good for some companies that sell their products in Iran,” Mohsen said.According to economists, the root causes of the rial’s slump pre-date the Trump administration’s withdrawal from the nuclear deal.
Some Iranian companies, long sidelined in favour of foreign competitors, are now seeing so much demand that “buyers have to queue up” to place orders, he said.
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