Iran's stock market is thriving, despite US sanctions which have battered its economy AFP
France 24: Iran traders ride bull market despite US sanctions
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.
Tehran Stock Exchange was buzzing Monday after the latest spike in a 12-month bull market, which veteran trader Mohsen said was mostly caused by the crash of Iran's currency, the rial.
"Share values are not growing because of profitability but because of the companies' asset values," which have spiked on a drastically weaker currency, he said.
The energetic 58-year-old said he had "seen it all" in three decades of trading at the exchange in central Tehran.
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WNU Editor: It is not booming for the right reasons. Five or so years ago the top stock market in the world was Venezuela's. The reason why the Iranian stock market is booming is (like Venezuela's five years ago) because of inflation and the collapse in the value of their money..
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