Currency rates boost Tehran stock value

Financial Tribune – Keeping pace with trends in the domestic currency market, Tehran stocks rallied Saturday to new peaks.

The main gauge of Tehran Stock Exchange gained 5,000 points, sending TEDPIX 1.6% higher to 327,624.8 for the day.

Saturday’s rally marked the fourteenth consecutive growth for the TSE when the benchmark clawed back to a historic peak on Oct. 5.

Rather than taking influence from other fundamental factors, stocks seem to be following closely in the footsteps of the currency market as forex rates keep soaring in Tehran.