Iran’s stock exchange hits 1 year high after nuclear deal

TEHRAN, Iran (AP) — The Tehran Stock Exchange has rallied to a one year high in the wake of Iran’s landmark nuclear deal with world powers last summer.

Hamid Rouhbakhsh, a spokesman for the stock exchange, said Tuesday the index was at its highest peak in more than twelve months.

The volume of daily trade has increased from $40 million to $133 million since the implementation of the nuclear deal in January 2016.

Stockbroker Tahereh Mollaie says the rise shows that “trust is restoring to the market.”

The historic July 14 nuclear accord brought about the lifting of international sanctions last month after the U.N. certified that Iran has met its commitments to curbing its nuclear activities.

By AP