OUR NEWSLETTER

«IRAN INVESTMENT MONTHLY» IS OUR WIDELY READ MONTHLY NEWSLETTER WHICH PROVIDES THE LATEST NEWS ON IRAN’S FINANCIAL MARKET AND ECONO­MY IN ENGLISH

BACKGROUND

Iran Investment Monthly has been consistently published for over 10 years and has a wide readership of over 3,000 investors and Iran enthusiasts.

This newsletter and other regular research products of the firm, are a free source of English language research on the Iranian economy and the capital markets.

December 2020 No 166, Volume 15

 

  • Iranian Stock Market posts strong recovery in November with the main index rising 20% in Euro Terms
  • Optimism regarding the incoming Biden administration has fueled a positive feeling in the country and across numerous asset classes
  • The currency appreciated by over 5% in the month of November and also global commodity prices contributed to the Iran Stock markets recovery from a very volatile previous 3 months
Read More

November 2020 No 165, Volume 15

 

  • The Iranian stock market continued its sharp decline in October, extending its unprecedented losses from the july peak to more than 50% in Euro terms
  • This is the most severe fall that the TSE has ever experienced over its 32-year recorded history since the iranian revolution in 1979
  • More than 70% of this contraction is due to significant share price declines in IRR terms and 30% can be attributed to the weakening currency over the course of the past three months
Read More

October 2020 No 164, Volume 15

 

  • Market continued to decline as it did previous month with index falling by 31% in USD$ terms
  • The housing market had also experienced unprecedented levels of appreciation and the rental market increased by 27% over a 12 month period
  • Gold ETF market remains very popular with investors looking to hedge against IRR devaluation with a total market of $100m USD now listed on the Tehran Stock exchange
Read More

September 2020 No 163, Volume 14

 

  • Market slowed down and dropped by 8-10% in August with the correction imminent (bubble starting to burst)
  • The market sold off for the 1st time since October 2019 with investors taking profits as the market capitalization of the TSE reached $400 bln
  • Monthly growth in base money of IRR dropped by 2.2% which demonstrates that the TSE is in bubble territory
Read More

Newsletter Archive

 
  • Iranian Stock Market posts strong recovery in November with the main index rising 20% in Euro Terms
  • Optimism regarding the incoming Biden administration has fueled a positive feeling in the country and across numerous asset classes
  • The currency appreciated by over 5% in the month of November and also global commodity prices contributed to the Iran Stock markets recovery from a very volatile previous 3 months
 
  • The Iranian stock market continued its sharp decline in October, extending its unprecedented losses from the july peak to more than 50% in Euro terms
  • This is the most severe fall that the TSE has ever experienced over its 32-year recorded history since the iranian revolution in 1979
  • More than 70% of this contraction is due to significant share price declines in IRR terms and 30% can be attributed to the weakening currency over the course of the past three months
 
  • Market continued to decline as it did previous month with index falling by 31% in USD$ terms
  • The housing market had also experienced unprecedented levels of appreciation and the rental market increased by 27% over a 12 month period
  • Gold ETF market remains very popular with investors looking to hedge against IRR devaluation with a total market of $100m USD now listed on the Tehran Stock exchange
 
  • Market slowed down and dropped by 8-10% in August with the correction imminent (bubble starting to burst)
  • The market sold off for the 1st time since October 2019 with investors taking profits as the market capitalization of the TSE reached $400 bln
  • Monthly growth in base money of IRR dropped by 2.2% which demonstrates that the TSE is in bubble territory
  • Tehran Stock Exchange generated a positive return of 9.9% in Euro Terms despite IRR depreciating by 12%
  • $1 billion USD was injected into the local Forex Market by the Central Bank of Iran
  • Government continuing the privatization initiative with blocks of companies in governmental owned refineries and automotive companies being sold via the stock market
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market continue to rally 60% and 47% in IRR terms over during this month ending June 2020, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms was 39% in TSE and 28% in Farabourse market. This was mainly due to 15% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year 1399 (March 2020) to end June, total issuance on the fixed income market reached 1.1 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 15% at the end of June.
Economic Review
  • This issue reviews the updates on the government contractionary actions in foreign exchange market and banking sector. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centers.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market continue to expand moderately 11% and 9% in IRR terms over during this month ending May 2020, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms was 2% in TSE and 1% in Farabourse market. This was mainly due to 8% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year 1399 (March 2020) to end May, total issuance on the fixed income market reached 0.5 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 15% at the end of May.
Economic Review
  • This issue reviews the updates on overall economy outlook and the recent rally of the stock market. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market continue to expand 74% and 57% in IRR terms over the past two months ending April 2020, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 61% in TSE and 46% in Farabourse market. This was mainly due to 8% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year 1399 (March 2020) to end April, total issuance on the fixed income market reached 0.2 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 16% at the end of April.
Economic Review
  • This issue reviews the updates on housing market and the recent inflation targeting announcement published by the CBI. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market expanded 19% and 21% in IRR terms over the month, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 8% in TSE and 10% in Farabourse market. This was mainly due to 10% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end-February 2020, total issuance on the fixed income market reached 6.5 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 20.87% at the end of February.
Economic Review
  • This issue reviews the updates on unemployment and economic participation rate by Statistical Center of Iran. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centers.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market expanded 13% and 9% in IRR terms over the month, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 10% in TSE and 6% in Farabourse market. This was mainly due to 3% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end January, total issuance on the fixed income market reached 5.9 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 19.76% at the end of January.
Economic Review
  • This issue reviews the updates on investment share in GDP and industrial production statistics published by Monetary and Banking Research Institute, Tehran Chamber of Commerce and IMF. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market expanded 21% and 22% in IRR terms over the month, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 14% in TSE and 15% in Farabourse market. This was mainly due to 6% depreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end-December, total issuance on the fixed income market reached 5.4 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 20.48% at the end of December.
Economic Review
  • This issue reviews the updates on housing market, industrial production and trade published by Central Bank of Iran and Ministry of Industry. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The Tehran Stock Exchange (TSE) and junior Farabourse (IFB) markets remained flat during November 2019, inching up 1% and 3% in IRR terms respectively. With an 11% depreciation of the IRR against the unofficial USD rate, the month-on-month loss in dollar terms was 9% on the TSE and 7% on the IFB respectively.
Debt Markets
  • From the start of the Iranian calendar year (March 2019) up until the end of November, the total issuance on the fixed income market reached 4.3 billion US$ based on the unofficial exchange rate. The yield to maturity (YTM) remained stable at 20.8% at the end of November.
Economic Review
  • This issue reviews the latest updates on the unemployment and economic activity rates published by Statistical Center. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centers.
Equity Markets
  • During October 2019, Tehran Stock Exchange (TSE) and junior Farabourse (IFB) markets recorded loss of 4% and 9% in IRR terms, respectively. Based on the unofficial exchange rate, the month-on-month loss moderated in dollar terms by around 3%. Hence, TSE and IFB declined by 2% and 6% in USD terms, respectively.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end- October, total issuance on the fixed income market reached 3.3 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 20.5% at the end of October.
Economic Review
  • This issue reviews the latest updates on inflation and banking sector facilities published by Statistical Center and Central Bank. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • Investors continued to drive equity markets up in the Tehran Stock Exchange (TSE) and junior Farabourse (IFB) markets in September. Following the rally of previous months, Iranian markets increased by around 16% in IRR terms over the course of the month. Based on the unofficial exchange rate, the month-on-month gain in dollar terms extended by 13% in the TSE and 12% in the Farabourse market. The IRR appreciation against the USD rate was 3% over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end-September, total issuance on the fixed income market reached 1.5 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 21% at the end of September.
Economic Review
  • This issue reviews the latest updates on the liquidity and banking sector Basel 3 assessment published by Central Bank and Monetary and Banking Research Institute. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • Both Tehran Stock Exchange (TSE) and junior Farabourse (IFB) market expanded 10% in IRR terms over the month. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 16% in TSE and 17% in Farabourse market. This was mainly due to 6% appreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end August, total issuance on the fixed income market reached 1.15 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 22% at the end of August.
Economic Review
  • This issue reviews the latest updates on the Tehran housing market and Producer Price Index (PPI) published by Central Bank and Statistical Centre, respectively. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market expanded 3% and 6% in IRR terms over the month, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 11% in TSE and 14% in Farabourse market. This was mainly due to 7% appreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end-July, total issuance on the fixed income market reached 1.1 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 22.73% at the end of July.
Economic Review
  • This issue reviews the latest GDP growth statistics published by Statistical Center. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.
Equity Markets
  • The TEDPIX index and junior Farabourse (IFB) market expanded 12% and 14% in IRR terms over the month, respectively. Based on the unofficial exchange rate, the month-on-month gain in dollar terms accelerate by 19% in TSE and 21% in Farabourse market. This was mainly due to 5% appreciation of IRR exchange rate over the month.
Debt Markets
  • For the start of the Iranian calendar year (March 2019) to end-June, total issuance on the fixed income market reached 1 billion US$ based on the unofficial exchange rate. Yield to maturity (YTM) remained stable at 22.24% at the end of June.
Economic Review
  • This issue reviews the latest unemployment statistics published by Statistical Center and Central Bank of Iran. In addition, we have included a separate report covering the latest macroeconomic data published by relevant organizations and senior macroeconomic strategists in a fact-sheet summary, as well as an economic calendar released by local and international statistics centres.

SUBSCRIPTION

In order to receive your free copy of the electronic version of Iran Investment on a monthly basis, please fill out the form below and click on the submit button.