Articles
Neutral, dated analysis and explainers across Iran’s markets.
Tehran's count of rising industry indices fell from 36 to 11 in one session and the main index lost 38,179 points; Iran Market Pulse, Tuesday, September 15, 2026
Tehran's main index closed Monday, 23 Shahrivar 1405 (14 September 2026) down 38,179 points, or 0.51 percent, at 7,393,272, ending a seven session run of higher closes. SENA reported that 11 industry indices rose in the same session, against 36 the day before and 40 on Saturday. Outside the exchange the free market dollar gained 1.18 percent and its gap with the Exchange Centre remittance rate opened 2,208 tomans wider in one session, while 18 karat gold fell 0.82 percent.
Mobarakeh Steel closed at its highest since 18 January 2026 after 103 sessions without a trade, on the day Tehran's index closed red (Monday, 14 September 2026)
FOLD (Mobarakeh Steel of Isfahan) recorded its highest closing price since 18 January 2026 on Monday, 14 September 2026. Between those two dates lie 103 trading sessions in which the symbol did not trade at all: partly the roughly 80-day interruption of the whole exchange, partly the suspension of the symbol itself, which ended on 8 August 2026. It happened in a session where Tehran's main index closed red and retail investors were net sellers of this very symbol.
Tehran's Main Index Set a Seventh Consecutive Record at 7,431,450 Points; Iran Market Pulse, Monday, September 14, 2026 notes its last red close was on 13 Shahrivar
In Sunday's session, 22 Shahrivar 1405 / 13 September 2026, the Tehran Stock Exchange main index (TEDPIX) rose 153,863 points, or 2.11 percent, to close at 7,431,450 and set a seventh consecutive record. The last session this index closed lower was 13 Shahrivar, seven trading sessions ago. In the same session the free market dollar fell 2.32 percent and 18 karat gold 1.87 percent, while Brent crude stands 3.02 percent higher at $107.77 this morning.
Sita's AGM voted out 96.58 percent of the profit for the year to 21 May 2026; the share has closed at its 3 percent daily cap in all four sessions since it reopened and ended 13 September in a 28 million share buy queue
Sita's annual general meeting approved a cash dividend of 4,155 rials per share on Sunday 6 September 2026, equal to 96.58 percent of its 4,302 rial earnings per share and 9,141 billion tomans in total. The symbol reopened on 8 September after a three session halt and has closed at the 3 percent daily cap in every session since; on 13 September it finished at 29,880 rials with a buy queue of 28,045,626 shares and no supply on the board.
Iran Market Pulse opens on the Farabourse, Sunday, September 13, 2026: 72 percent of Saturday's Farabourse turnover went to government debt as the Tehran bourse index set a sixth straight record at 7,277,556
Iran Market Pulse for Sunday, September 13, 2026, before the Tehran bourse opens: in Saturday's session, 61.07 trillion tomans of the Farabourse's 85.31 trillion tomans of turnover, or 71.6 percent, was traded in 22 government debt tickers, a sum by itself 1.39 times the entire Tehran Stock Exchange turnover. The main index rose 2.18 percent to a record 7,277,556 the same day, and retail investors flipped to net buyers of 5.14 billion shares after one session of selling.
Arzesh Maskan, a Tehran-listed property fund, closed at a 52-week high on 12 September 2026; the NAV its 208.9 percent gap is measured against is 122 days old
Arzesh Maskan, a real-estate investment fund traded on Iran's Farabourse, closed on Saturday 12 September 2026 (21 Shahrivar 1405) at 37,361 rials a unit, up 1.78 percent and its highest close in 52 weeks. That price sits 208.9 percent above the fund's published NAV of 12,094 rials, but that NAV carries the date 13 May 2026 on the exchange's own board: 122 days earlier. The same afternoon, the fund filed notice of a unitholder assembly for 22 September 2026.
Tehran's One Month Gold and Coin Rally Was Not the Ounce's Doing: Ounce Zero Percent, 18 Karat Gold 26.7 and the Coin 27.5 Percent (Iran Market Pulse, Saturday 21 Shahrivar 1405 / 12 September 2026)
Iran Market Pulse, Saturday 21 Shahrivar 1405 (12 September 2026), before the bourse opens: over the month to today spot gold went from $4,351.71 to $4,350.36, down 0.03 percent, while 18 karat gold rose 26.74 percent, the Emami coin 27.51 and the free market dollar 26.18. The last session, Wednesday 18 Shahrivar, closed TEDPIX at a record 7,122,270 points, on a day retail investors were net sellers of 2.5 billion shares.
Axios and Reuters report Washington turned down Riyadh's request to strike Ansar Allah; Brent travelled $12.8 across four sessions to close just $5.4 higher (Friday, 11 September 2026)
On Friday, 11 September 2026, Axios and Reuters reported, citing sources, that Saudi Arabia's crown prince asked Trump for US military help against Ansar Allah and that Washington offered intelligence support instead of strikes. Across the same four sessions, Brent crude travelled $12.8 on Sahmino's own series but closed only $5.4 higher, from $99.17 on 8 September to $104.60 on 11 September. Spot gold ended $9 lower over the same span and the free market dollar rose 9,275 tomans.
The iPhone 18 Pro Equals About 17 Months of Iran's 1405 Minimum Base Wage, and 11.5 Grams of Gold; 94% of Its One-Year Rial Price Rise Was the Exchange Rate (Thursday, 10 September 2026)
At Apple's official 1,199 dollars and the free-market dollar of 232,700 tomans recorded on 9 September 2026, the 256GB iPhone 18 Pro converts to 278.9 million tomans: about 16.8 months of Iran's 1405 minimum base wage, roughly 3,220 working hours, and 11.5 grams of 18-karat gold. Of its 168 million toman one-year rise, about 94% came from the exchange rate and about 6% from Apple's pricing decision.
Apple launched the iPhone 18 Pro $100 dearer, a gap that reaches $300 at one terabyte, and priced the foldable iPhone Duo at $1,999 (Thursday, 10 September 2026)
Apple introduced the iPhone 18 Pro, the Pro Max and its first foldable, the iPhone Duo, on Wednesday, 9 September 2026. The 256GB iPhone 18 Pro costs $1,199, $100 above the iPhone 17 Pro, but at one terabyte the gap reaches $300. At a free-market dollar of 232,700 tomans on 9 September 2026, the Pro works out to about 279 million tomans for an Iranian buyer and the Duo to about 465 million.
Iran Khodro opens its 15th priority sale round with 25,200 cars; the factory to market gap on the Dena Plus automatic is at least 638 million tomans (Wednesday, September 9, 2026)
Iran Khodro opened the 15th round of its priority based car sale at noon on Wednesday, September 9, 2026 (18 Shahrivar 1405), with 25,200 vehicles on offer. The same day, the Dena Plus turbocharged automatic traded at 3.25 billion tomans on the open market according to Sahmino's own recorded prices, against a factory price of 2,611,774,900 tomans in this round's list; the gap between those two figures is at least 638,225,100 tomans.
Tehran's main index crosses 7 million points for the first time on a day retail investors turned net buyers; Iran Market Pulse, Wednesday, September 9, 2026
Iran Market Pulse, Wednesday, 18 Shahrivar 1405 (September 9, 2026): the TSE main index rose 167,328 points, or 2.42 percent, to 7,074,945 on Tuesday 17 Shahrivar, crossing 7 million for the first time in the market's history, on a day retail investors turned net buyers after three sessions of net selling. The same day 18-carat gold rose 2.43 percent, the Emami coin 2.17 percent and the dollar 2.07 percent, and the first coin salaf bonds are offered today.
100,000 Gold Coins in 100 Million Notes; Iran Mercantile Exchange Details the Central Bank's First Coin Salaf Bond Offering, Set for Wednesday, September 9, 2026 Under the Symbol Asakkeh 2
The Iran Mercantile Exchange said on Tuesday, September 8, 2026 (17 Shahrivar 1405) that the central bank's first standard parallel salaf bonds on the full Bahar Azadi coin trade tomorrow, September 9, from 11:45 to 18:00 under the symbol "Asakkeh 2". The offering is 100,000 coins issued as 100 million notes, which makes each coin 1,000 notes. At the Emami coin's free market rate in Sahmino's price series at 19:59 today, one note is 234,995 tomans.
In a week the Tehran Stock Exchange index rose 359,000 points, 51 percent of that ground was covered in a single session; Iran Market Pulse, Tuesday, September 8, 2026
Iran Market Pulse, Tuesday, 17 Shahrivar 1405 (8 September 2026): the Tehran Stock Exchange index gained 359,685 points in the seven days to Monday's close, and 51.2 percent of that ground was covered in Monday's session alone, a 184,042 point gain of 2.74 percent that Boursenews called the index's largest daily rise. The same day the Emami gold coin fell 1.73 percent and the free-market dollar 0.41 percent.
Tehran's TEDPIX Rose 184,041 Points to 6,907,617 on Monday, September 7, 2026; Only 3 of 366 Bourse Symbols Closed Red
The Tehran Stock Exchange's main index (TEDPIX) closed on Monday, September 7, 2026 (16 Shahrivar 1405) at 6,907,617 points, up 184,041 points or 2.74 percent. A Sahmino screen across 366 Tehran bourse equity and rights symbols at that same close shows 362 closed higher and only 3 closed lower, each of the three by less than half a percentage point. Another 103 symbols closed at a gain of 2.99 percent or more, and the largest single gain recorded on the day was 3 percent.
Iran Market Pulse, Monday, 16 Shahrivar 1405 (7 September 2026): over the past month the coin returned 25.4 percent, bitcoin 22.7, the bourse 21.8 and the free dollar 20; TEDPIX set a fresh record on Sunday at 6,723,576
Iran Market Pulse, 16 Shahrivar 1405 (7 September 2026): in Sahmino's own series, the one month return from 17 Mordad to 15 Shahrivar (8 August to 6 September 2026) was 25.4 percent for the Emami coin, 22.7 for bitcoin, 21.8 for TEDPIX and 20.0 for the free dollar, so even a record month left the bourse behind the coin. On Sunday TEDPIX rose 1.85 percent to a record 6,723,576, while the free dollar fell 1.85 percent to 223,000 tomans.
DARA Closed at 552,923 Rials on Sunday, September 6, 2026, a Third Below Its Redemption Value and the Widest Such Gap Among Actively Traded Funds
The Financial Intermediation First Fund, traded as DARA on the Tehran Stock Exchange, closed at 552,923 rials per unit on Sunday, September 6, 2026 (15 Shahrivar 1405), down 1.35%, while TEDPIX rose 1.85% to a record 6,723,576 points. Its redemption value was published the same day at 829,476 rials, leaving the board price 276,553 rials, or 33.3%, below it: the widest discount among the 63 exchange traded funds that turned over more than 100 billion tomans today.
From 1 Shahrivar to today the free dollar rose 27,305 tomans and the last rate below 200,000 was set that day; Iran Market Pulse, Sunday, September 6, 2026, and TEDPIX set a record past 6.6 million units
Iran Market Pulse, Sunday 6 September 2026: the last time the free dollar closed below 200,000 tomans was 1 Shahrivar (23 August), at 199,900 tomans. On Saturday it closed at 227,205 tomans, 27,305 tomans and 13.7 percent higher in thirteen days. That same session TEDPIX rose 1.50 percent to 6,601,286 units, past 6.6 million for the first time, while retail investors were net sellers. Traded 18-karat gold opened 1.01 percent higher this morning.
How Is Inflation Measured? The Consumer Price Index and Why Iran's Statistics Center and Central Bank Differ
Learn how the Consumer Price Index (CPI) is built from a basket of goods and services, what separates monthly, year over year and trailing 12 month inflation, and why Iran's Statistics Center and Central Bank sometimes report different numbers.
Shavan Shares Rose 77.6% Over 22 Straight Sessions While Quarterly Profit Fell 90% (Saturday, September 5, 2026)
Shavan (Lavan Oil Refining) on Iran Fara Bourse has risen 77.6 percent over 22 straight higher closes, from August 1 to today, Saturday, September 5, 2026, reaching a one-year high. Yet the company quarterly statement for the period ended June 21, 2026 shows net profit per share down 90 percent from a year earlier. The rally has been driven mainly by retail buying.
Iran's Two Dollar Rates Drift 4 Points Wider This Week as TEDPIX Ends Its 20-Session Rally in the Red; Market Pulse, Saturday, September 5, 2026
Market Pulse, Sep 5, 2026: the gap between Iran's free dollar (221,060 tomans) and official rate (160,022 tomans) widened from 34.5% to about 38.1%, the Emami coin premium hit a weeks-low (189,000 tomans), and TEDPIX fell 1.21% to 6,503,971 points Wednesday, ending a 20-session rally as retail investors pulled out roughly 5,600 billion tomans. A strong US jobs report pushed gold and bitcoin down while Brent headed for its best week since mid-July.
Sports Ministry Fully Exits Esteghlal Football Club's Shareholder Register; Its 3.1% Stake Lands at a Persian Gulf Financial Group as the Stock Hits an Eight-Month High (Wednesday, September 2, 2026)
Iran's Ministry of Sport and Youth completely exited Esteghlal Football Club's shareholder register on September 2, 2026 (11 Shahrivar 1405), according to Tehran Stock Exchange records. The 3.1 percent stake (334,525,650 shares) the Privatization Organization had announced for sale a month earlier landed at Persian Gulf Capital Pioneers Financial Group. The same day, Esteghlal's closing price hit its highest level since January 7, 2026, its fifth straight gaining session.
Emami Coin's Premium Falls to 189,000 Tomans Today Despite a Gold and Dollar Jump; Its Tightest Gap in Weeks (Thursday, September 3, 2026)
The Emami gold coin's premium (the gap between its market price and its melt value) fell today, Thursday, September 3, 2026, from about 1,107,000 tomans yesterday to just 189,000 tomans, despite an roughly 2.6 to 3 percent jump in 18 karat gold and the global gold ounce. Sahmino's own data (16:59) and Alanchand's live bubble gauge (20:05) both put the gap near 188,000 to 189,000 tomans, under a tenth of a percent of the coin's price, even as the free market dollar rose only 0.53 percent.
Tehran's TEDPIX Falls 1.21% Today, Wednesday, Ending a Rally of At Least 19 Straight Gaining Sessions (September 2, 2026)
TEDPIX, which had climbed without a single losing session from August 3 to a record 6,583,932 points yesterday, fell 1.21% (about 80,000 points) today, Wednesday, September 2, 2026, to close at 6,503,970, alongside 5.7 trillion tomans of retail outflows.
Two Tankers Struck in Hormuz, US Promises New Bank Sanctions; Dollar Climbs Past Record; Iran Market Pulse, Sep 2, 2026; TEDPIX Sets Record
Iran Market Pulse, Wednesday, September 2, 2026: Tehran's free-market dollar, which hit a historic record of 209,300 tomans Monday evening, climbed another 4,700 tomans by Tuesday evening to 214,000 tomans. Two tankers were struck by projectiles in the Strait of Hormuz, and the US Treasury Secretary announced new Iran bank sanctions this week. Tehran's main stock index still set a fresh record despite a roughly 4.3 trillion toman real-money outflow. Global gold fell for a second straight day.
Tehran Cement Bag Premium Nearly Halves in Three Weeks; Gap to Commodity Exchange Price Falls From 47% to 25% (Tuesday, September 1, 2026)
The price of a 50kg bag of Tehran cement fell from 291,000 tomans on August 13 to 240,000 tomans on September 1, 2026; Abyk cement dropped 21.5% and Saveh cement 12.3% over the same span. The gap between Tehran's retail bag price and the Iran Mercantile Exchange's discovered price (about 192,500 tomans) narrowed from 47% to nearly 25% in the same period, meaning the retail "bag premium" has roughly halved.
The Neighbors' Markets: How Does Iran Connect to the Persian Gulf, Iraq, the Caucasus and Central Asia?
Four distinct channels link Iran to its neighbors' economies: Iraq as a goods export destination, the UAE as a financial and re-export hub, the Caucasus as a transit and energy corridor, and the east as a barter settlement route. Each channel comes with a dated real number.
Dollar Hits Record 209,300 Tomans, Brent Tops $90 as Iran-US Tension Escalates; Iran Market Pulse, Tuesday, 10 Shahrivar 1405 / September 1, 2026: TEDPIX Sets Fresh Record Anyway
Iran Market Pulse, Tuesday, 10 Shahrivar 1405 (September 1, 2026): Tehran's free market dollar hit a record 209,300 tomans Monday evening and Brent crude topped $90, as the US struck Iran's Larak Island and Iran hit back at bases in Jordan and the UAE. TEDPIX still closed up 0.49% at a record 6,547,932 points Monday, even as retail investors pulled about 2 trillion tomans out of stocks. Global gold held steady and bitcoin stood near $78,700.
Kian Financial Group's Stock Is Up 465% in a Year, Hit a 12-Month Record on Saturday; Its 180% Capital Increase Diluted No One
Kiana, the Tehran-listed ticker for Kian Financial Group, closed at 8,110 rials on Monday, August 31, 2026, up 465% from 1,435 rials a year earlier on September 2, 2025. Two days earlier, on Saturday, August 29, the stock closed at a 12-month record of 8,160 rials, two weeks after shareholders approved a 180% capital increase funded entirely from retained earnings, which does not dilute holders. Only 9% of the stock's shares are free-floating.
What Is a Money Corridor? How Hawala, the Dirham and Tether Move Money
A money corridor is the route value, not necessarily cash, takes from one country to another. This lesson explains how hawala works, why the UAE dirham anchors so many of these routes, and why Tether has become the "digital dollar" on them, along with their real risks, with no advice on whether to use them.
Tehran Bourse's Biggest-Ever IPO Opens Today; Iran Market Pulse, Monday, 9 Shahrivar 1405: The Dollar Gained 6,110 Tomans in a Week, TEDPIX Set a New Record
Today, Monday, 9 Shahrivar 1405 (August 31, 2026), Taban Petrochemical's shares, 4.6875 billion of them, go public in the largest IPO in Tehran Stock Exchange history. It comes right after a week in which TEDPIX jumped 2.03 percent Saturday to a record 6,516,184 points and the free-market dollar climbed 6,110 tomans (3.06 percent), from 199,900 tomans on 1 Shahrivar to 206,010 tomans on Saturday.
Iran's Administrative Court Annuls Competition Council's Car Down-Payment Rule; Saipa and Iran Khodro Give Conflicting Codal Disclosures
Iran's Administrative Court of Justice annulled Competition Council Resolution 473, known in the auto industry as the "inflation-share rule," on Wednesday, August 19, 2026. The resolution had locked a car buyer's pre-sale down payment in as a fixed share of the price at registration. Saipa's August 22 Codal disclosure said the annulment is retroactive and its financial impact is still being calculated; Iran Khodro said the same day the ruling has no revenue effect on the company.
What Are Secondary Sanctions; How Do OFAC and the FATF Work?
How secondary sanctions differ from primary sanctions, how OFAC's SDN List and general licenses work, and how the FATF places countries on its increased-monitoring or call-for-action lists: all as predictable calendar events that shape currency-market expectations.
Iran Market Pulse, Morning, Sunday, August 30, 2026: TEDPIX Jumps 2.03% to a Record 6,516,157 as Global Gold Steadies After Friday's 3% Drop and the Coin Hits a New High
Tehran's TEDPIX jumped 2.03% on Saturday, 29 August 2026, to a fresh record of 6,516,157 points, its best week in ten weeks. Global gold steadied around $4,454 after Thursday night's 3%-plus drop, while Tehran's free-market dollar rose 2.7% to 206,010 tomans, pushing the Emami coin to a fresh record of 218,010,000 tomans. Mordad's year-on-year inflation hit a record 89%.
Tehran's TEDPIX Jumps 2.03% to a Fresh Record of 6.516 Million Points; This Week's Liquidity Flows From Parallel Markets Into the Bourse (Saturday, August 29, 2026)
Tehran's TEDPIX (main stock index) rose 2.03% (up 129,581 points) on Saturday, August 29, 2026, to a record 6,516,000 points, its sixth straight gaining session, up nearly 7.5% since August 22. Trading value hit about 41.8 trillion tomans and 224 stocks gained more than 2%, as the dollar and gold pulled back this week.
Rail Pardaz Novafarin's Stake in Dlip Jumps From 49.5% to 80.9% After a 450% Rights-Stripped Capital Increase (Saturday, August 29, 2026)
Rail Pardaz Novafarin's stake in Tehran Stock Exchange base-market ticker Dlip (Delijan Talaei Shokouh Pars) rose from 49.53% to 80.93% in the exchange's official ownership record dated August 26, 2026, three days after Dlip's 450.5% capital increase, funded entirely from cash with existing shareholders' pre-emptive rights stripped, was formally registered.
Tehran Stock Exchange Closes the Week at a Record 6,386,576 Points the Same Night Global Gold Drops 3 Percent on Fed Remarks: Market Pulse, Morning of Saturday, August 29, 2026
Tehran's benchmark TEDPIX index rose 2.6 percent on Wednesday, August 26 (4 Shahrivar) to a record 6,386,576 points, capping a roughly 5.4 percent weekly gain. But on Friday night, August 28 (6 Shahrivar), hawkish remarks from Fed Chair Kevin Warsh at Jackson Hole sent global gold down 3.08 percent to $4,458.89 and pulled bitcoin back toward $78,400; odds of a September Fed rate hike now sit near 50 percent.
Pezeshkian Sets Iran's Third-Tier Gasoline Price at 10,000 Tomans: Mapping the Chain Reaction on Inflation, the Dollar, Gold and the Bourse (Friday, August 28, 2026)
President Masoud Pezeshkian said on the evening of Friday, August 28, 2026 (6 Shahrivar 1405) that Iran's third-tier gasoline price, after coordination among relevant institutions, will rise from 5,000 to 10,000 tomans per liter and go no higher. It is the first time the country's top executive official has confirmed a final figure; an implementation date has not been announced. Sahmino examines the chain of effects on inflation, the dollar, gold, the stock market and Iranian industries.
Central Bank Gives Marriage and Childbirth Loan Priority to Gam Bond Welfare Card Holders; Store Credit Arrives Faster, Not Necessarily Cash (Friday, August 28, 2026)
Iran's central bank says applicants for interest-free marriage and childbirth loans who choose the "welfare card linked to Gam bonds" get priority in payment order; the card gives store credit for specific goods at contracted merchants, not cash the household can spend freely (Aug 27-28, 2026).
Global Gold at a Three-Month High as the Dollar Sits Near a Multi-Month Low; Market Pulse, Friday Morning, Aug 28, 2026; Tehran's Bourse Closed With Its Record 6,386,000-Point Week
Friday morning, Aug 28, 2026 (6 Shahrivar 1405): Tehran's bourse and commodity exchange are closed, but global gold, which hit a three-month high of $4,696 on Monday, trades at $4,580 today, the dollar sits near a multi-month low and bitcoin holds near $80,000. In Tehran, TEDPIX closed the week at a record 6,386,577 points and the free-market dollar has eased from a weekly peak of 203,000 tomans to a 200,000-202,000 toman range.
As the Global Dollar Nears a Multi Month Low, Gold Holds Near a Three Month High and Bitcoin Nears $80,000; Tehran's 18 Karat Gold Hits a Record 21,746,400 Tomans (Market Pulse, Morning, Friday, 6 Shahrivar 1405)
Tehran's bourse is closed this Friday morning, 6 Shahrivar 1405, but parallel markets are hot: global gold, which traded at $4,590 to $4,600 on Thursday, its highest in more than three months, eased slightly to $4,580 this morning; the US Dollar Index is down 1.69 percent over the past month, near a multi month low, and bitcoin has reached $79,862. In Tehran, 18 karat gold hit 21,746,400 tomans this morning and the free market dollar traded at 200,600 to 201,960 tomans yesterday.
Hemmati Says Central Bank Has Supplied $500 Million in Negotiated-Rate FX to the Parallel Market; Gap With the Free Dollar Still 21 Percent (Thursday, Shahrivar 5, 1405)
Central Bank Governor Abdolnaser Hemmati said Thursday, Shahrivar 5, 1405 (August 27, 2026) the bank has supplied $500 million in negotiated-rate FX to the parallel market to curb "fake FX jobs," with more available if needed. Sahmino's board put today's negotiated dollar at 158,039 tomans against a free-market dollar near 200,600 tomans, a gap of about 21 percent.
Bitcoin Reached About $79,650 Today, Its Strongest Month in Over a Year, But It's Still Well Below Its All-Time Record (Thursday, August 27, 2026)
Bitcoin traded around $79,650 today, Thursday, August 27, 2026, per CoinGecko, ArzDigital and TradingEconomics. The world's largest cryptocurrency is having its best monthly performance in over a year, but it remains clearly below its October 2025 all-time record. The main driver has been the US Treasury's August 19 decision to roughly double its long-dated bond buybacks.
Iran Market Pulse, Midday Thursday, Shahrivar 5, 1405; Bourse Closed but TEDPIX Closes Its Best Week at a Record 6.386 Million Points as the Dollar Stays Boxed In by the Central Bank and Global Gold Trades Quietly
Tehran's stock exchange is closed today, Thursday, Shahrivar 5, 1405 (August 27, 2026), but TEDPIX capped the trading week by jumping 2.61 percent to a record 6,386,577 points in Wednesday's final session, up nearly 5.4 percent on the week. The Central Bank pushed the free market dollar back below the 200,000 toman threshold through banknote sales, while global gold traded quietly with no significant move.
Iran Radiator Hits Second Straight One-Year High on Tehran Stock Exchange After 36% Sapco Rate Hike Worth 103.5 Billion Tomans in Revenue (Wednesday, August 26, 2026)
Iran Radiator Manufacturing Co. (RADI) told Codal that Sapco raised its product prices 36 percent, an effect it estimates at about 103.5 billion tomans (8 percent of last year's revenue) by fiscal year end. The stock gained more than 10 percent over four sessions and today, Wednesday, August 26, 2026, closed at a fresh one-year high for the second straight session, at its daily price ceiling.
Fameli Hits a One-Year Record of 19,950 Rials on a Third Straight Rally; Its Valuation Sits in the 23rd Percentile of Its Own Sector (Wednesday, August 26, 2026)
Shares of Fameli (National Iranian Copper Industries) on the Tehran Stock Exchange rose 2.99 percent to 19,950 rials on Wednesday, August 26, 2026 (Shahrivar 4, 1405), a one-year closing high and a third straight up session. The company's trailing twelve-month net profit is up 261 percent year on year, yet Sahmino's own screen places Fameli in just the 23rd valuation percentile of its 93-member basic-metals peer group, with a P/E about 31 percent above the sector average.
Why Did the Global Ounce Fall While the Coin Got More Expensive?
We break a coin's price into three parts, the global ounce, the domestic dollar, and the premium, and use a real, dated case from July 2026 to show how these parts can move in opposite directions overnight.
Dozens of Large Stocks Hit Buy Queues as TEDPIX Sets a Fresh Record; Iran Market Pulse, Midday Wednesday, Shahrivar 4, 1405 (August 26, 2026); Bitcoin Retreats From Its $81,250 Record, Iran Oil Exports Sink to 300,000 Barrels
Today, Wednesday, Shahrivar 4, 1405 (August 26, 2026), TEDPIX was up 2.52 percent (156,870 points) as of 10:59am, reaching 6,380,749 points, extending its recent record-breaking run; dozens of large stocks, including Bank Tejarat, Fameli, Shepna and Fars, stayed in buy queues. Meanwhile bitcoin retreated from yesterday's record of $81,250 to around $79,000, and Iran's crude oil exports sank to a 300,000 barrel-per-day floor in Mordad, as seven tankers loaded at once at an Iraqi terminal.
Bank Tejarat Hits 20th Straight Rising Session and a 795-Billion-Toman Buy Queue, Still Trading 27% Below Book Value (Tuesday, August 25, 2026)
Bank Tejarat (وتجارت) closed Monday, August 24 at a 52-week high of 901 rials, its 20th consecutive rising session, then rose another 3% to 928 rials today, Tuesday, August 25, closing locked in a buy queue worth roughly 795 billion tomans. Yet under its audited Codal financial statement, the stock still trades about 27% below book value; it is up 59% over one month and 187% over one year.
Taban Enters IPO Threshold With a Claimed 40% Guaranteed Return; NAV at 960 Trillion Tomans, Net Profit Forecast at 24.8 Trillion Tomans for 2026/27 (Monday, August 24, 2026)
Tehran Stock Exchange hosted an introductory session on Monday, August 24, 2026 for the IPO of "Taban" (Taban Farda Petrochemical Group). Its NAV was put at 960 trillion tomans and the valuation report's estimated share price at 16,073 rials; net profit for 2026/27 is forecast at about 24.8 trillion tomans. The major shareholder claimed a 40% return guarantee for IPO buyers, a claim Mehr News Agency says still needs checking against the official offering notice.
Dollar, Gold and Coin All Pulled Back Today; Dollar Retreats From a 204,820-Toman Peak to the 200,000-Toman Range (Tuesday, August 25, 2026)
On Tuesday, August 25, 2026, Tehran's free-market dollar retreated to about 200,000 tomans this evening after a two-day surge that had taken it to a peak of 204,820 tomans; global gold, domestic 18-karat gold and the Emami gold coin fell together. A day earlier, Central Bank Governor Abdolnasser Hemmati had announced $175 million a day in FX supply and a plan to allocate $20 billion to industry by year-end, calling the exchange-rate gap "temporary."
Who Sets OPEC+ Oil Quotas? The Monitoring Committee and Russia's Role
How does OPEC+ actually set each member's oil quota? This lesson covers the two decision layers, the seven voluntary producers and the Joint Ministerial Monitoring Committee (JMMC), Russia's role beside Saudi Arabia, and how that differs from the separate Eurasian Economic Union.
Tehran's Main Index Jumped 1.85 Percent Today to a Record High; Iran Market Pulse, Tuesday Midday, Shahrivar 3, 1405; Bitcoin Topped $81,000 as China's Iran Oil Imports Fell to a Multi-Month Low
Tehran's TEDPIX index jumped 1.85 percent (112,999 points) by 10:59 am Tehran time today, Tuesday, Shahrivar 3, 1405 (August 25, 2026), to 6,212,955 points, an all-time high; the equal-weight index rose 1.36 percent and Farabourse 1.3 percent. Bitcoin topped $81,148 overnight and China's Iran oil imports fell to about 534,000 barrels a day in August, down from two-thirds of July's level; the free-market dollar and gold, however, held steady today.
Third Straight Pharma Buy Queue in Under a Week: IRDR Hits a One Year High on a 19 Session Run With No Price Moving Codal Disclosure Behind It (Monday, August 24, 2026)
IRDR (Iran Daru) closed up 2.94% and locked in a buy queue on Monday, August 24, 2026, taking its closing price to 14,000 rials: a 19th straight higher close and a fresh one year high, 444.2% above its 2,572.58 rial low of September 24, 2025. Unlike DJBR and Razak, which showed the same pattern recently, Sahmino found no price moving material disclosure filed by the company on Codal in the past 90 days.
DJBR Jumps 14.53%, Extends Winning Streak to 10 Sessions and Hits a 52-Week High; 13 Days After Bank Employees' Pension Fund Exited Its Stake (Monday, August 24, 2026)
Tehran Stock Exchange ticker DJBR (Jaber Ebne Hayyan Pharmaceutical) opened 14.53% above yesterday's close on Monday, August 24, 2026, closing at a 10th straight higher session and a 52-week high of 44,340 rials, on volume 17.8 times its 20-session average. The rally began just 13 days after the Bank Employees' Pension Fund sold its entire 16.58% stake, worth about 1,588 billion tomans, to National Investment Company of Iran (NIKI) on August 11, 2026.
Four Channels That Connect the Global Economy to Iran's Markets: From the Fed's Rate to Oil Prices
Learn how a Fed decision, the dollar index, the global gold ounce and the price of oil reach Tehran's free dollar, the coin, domestic gold and the stock market, with a hypothetical worked example for the dollar-gold chain and a real, dated example for the oil channel.
Market Pulse, Midday Monday, Shahrivar 2, 1405; The Dollar Crosses 201,000 Tomans and TEDPIX Sets a Fresh Record, Hours After Bessent Announces Washington's Largest Economic Attack on Iran
The free market dollar reached 201,810 tomans on Sahmino's board today, Monday, Shahrivar 2, 1405, and 18 karat gold set a fresh record with a 2.63 percent gain, while TEDPIX also built a third straight record high. The simultaneous jump in both safe haven and risk assets came hours after US Treasury Secretary Scott Bessent announced the start of Washington's largest economic attack on Iran; oil is trading down about 2 percent.
Tehran's Free-Market Dollar Crosses 200,000 Tomans for the First Time Tonight (Sunday, Shahrivar 1, 1405)
Iran's free-market dollar in Tehran crossed 200,000 tomans (2,000,000 rials) tonight, Sunday, Shahrivar 1, 1405 (August 23, 2026), for the first time in at least a month, trading as high as 201,300 tomans; three independent sources (Sahmino, TGJU and Alanchand) confirm the level. That is up about 4 percent from last night's Sahmino-registered rate of 192,700 tomans.
Tehran Stock Exchange Notches Second Straight Record, But Sunday's Gain Shrinks to Just 0.14 Percent
TEDPIX climbed as high as 6,154,000 points in mid session trading on Sunday, August 23, 2026, notching a second straight record close, but a wave of second half selling pared the day's gain to just 0.14 percent, at 6,069,888 points. Buy queues held on only 245 symbols, and per Donya-e-Eqtesad, both real money and fixed income funds ended the day with cash flowing out.
Aref: Top Income Decile Gets 23 Times More Gasoline Subsidy Than Bottom Decile; Government Denies 80,000 Toman Price Rumor (Sunday, August 23, 2026)
Mohammad Reza Aref, Iran's First Vice President, said Sunday, August 23, 2026 that the country's top income decile receives 23 times more benefit from the gasoline subsidy than the bottom decile, and that subsidized gasoline costs the country several billion dollars a year. Government spokesperson Fatemeh Mohajerani denied a rumored 80,000 toman gasoline price circulating on social media, saying no new figure or pricing model has been approved yet.
Portfolio Risk Management, From Time Horizon to Scenario Planning and Rebalancing
Time horizon sets how much risk an investor can take, scenario planning shows what a portfolio does under stress, and rebalancing restores it to target weights. This educational, non-prescriptive lesson walks through all three with a real, dated Tehran Stock Exchange example.
18-Karat Gold Hits a Third Straight Record, Tops 21 Million Tomans; Iran Market Pulse, Midday Sunday, Sept 1 Shahrivar 1405, TEDPIX Nears 6.1 Million Points
Eighteen-karat gold in Tehran hit 21,469,200 tomans today, Sunday, Sept 1 Shahrivar 1405 (August 23, 2026), a third straight record, up about 4.7 percent from Saturday. TEDPIX reached 6,099,092 points in trading today, Tether's toman price jumped nearly 1.3 percent, and markets await tomorrow's US sanctions package.
Vabmellat, Mobarakeh Steel, Shepna and Ikco: Sahmino's 4-Stock Weekly Watchlist, From Vabmellat's P/E of 2.99 to Ikco's Losses (Saturday, August 22, 2026)
In the first edition of its Weekly Watchlist series, Sahmino examined four Tehran Stock Exchange names for the week ahead: Vabmellat, Mobarakeh Steel, Shepna and Ikco. All four closed higher on Saturday, August 22, 2026, and three closed locked in buy queues, but their P/E ratios and profit trends differ sharply, from Vabmellat's P/E of 2.99 (roughly half the banking sector average) to Iran Khodro's net loss for the twelve months to March 20, 2026.
Iran's Emami Coin Premium Falls to Just 59,000 Tomans Today; Quarter and Gram Coins Still Cost 10 to 17 Percent More (Saturday, August 22, 2026)
On Saturday, August 22, 2026, Eghtesad Online reported (14:45 Tehran time) that the premium on Iran's full Emami gold coin had fallen to just 59,000 tomans, under a tenth of a percent of its price. Alanchand's live bubble calculator (21:35) put the same gap at negative 0.60 percent, the lowest in recent weeks. The quarter coin and gram coin premiums, however, stayed near 10 and 17 percent.
Tehran's Gold and Silver Funds Jumped Up to 6.1% Today While Global Bullion Barely Moved (Saturday, August 22, 2026)
On Saturday, August 22, 2026, at least 10 Tehran Stock Exchange gold and silver funds rose between 4.4% and 6.1%, several hitting their highest closes since May or June, while global gold held near $4,607 an ounce and silver near $69 an ounce, both essentially flat. Tehran's Emami gold coin rose 4.76% and 18-karat gold 5.7%, both far outpacing the 1.74% rise in the free-market dollar.
What Is Intermarket Analysis: How Long Do Iran's Dollar, Gold, Stocks and Housing Take to React?
Learn what intermarket analysis means, why global gold usually reacts to a shock before the dollar, the dollar before the Tehran bourse, and the bourse before housing, illustrated with a real, dated example from Iran's markets in the week of August 19 to 22, 2026.
6,066,678 Points: Tehran's TEDPIX Breaks Through 6 Million for the First Time, Iran Market Pulse, Midday Saturday, Mordad 31, 1405 (August 22, 2026); US and UAE Both Ratchet Up Pressure on Iran
Midday Saturday, Mordad 31, 1405 (August 22, 2026): Tehran's TEDPIX jumped 1.91% to 6,066,678 points, breaking through 6 million for the first time; Farabourse rose 1.77%. In parallel, the US Treasury Secretary vowed the "toughest sanctions in history" on Iran, the UAE suspended all trade and financial ties with Iran "until further notice," and Brent neared $94.
Saipa Opens Non-Lottery Registration for Quick, Aria and Pars Nova from Sunday, August 23; Its Stock Hits a One-Year High on a Seventh Straight Up Session
From 10am Sunday, August 23, 2026 (1 Shahrivar 1405), Saipa opens non-lottery registration for regular applicants to buy the Quick GX-L, Quick S, Aria and Pars Nova, drawing on leftover capacity from the youth-population quota; prices are non-final and delivery runs from September 2026 into around October-November 2027. The same week, Saipa's Tehran Stock Exchange ticker (SIPA/Khesapa) closed at a one-year high after a seventh straight higher session.
Bahman Motor Opens a Five-Model Auction on Saturday, August 22; Mazda3 Below Market Price as Its Stock Is Up 90 Percent Over the Past Year
Per its official notice, Bahman Motor is auctioning five passenger cars (Mazda3, Shuval 6, Respect Prime, Fidelity Elite and Fidelity Prestige) from Saturday, August 22 through Wednesday, August 26, 2026 (31 Mordad to 4 Shahrivar 1405) via auction.bahman.ir, per Donya-e-Eqtesad and Ecoiran, citing Mehr News; base prices are typically below the open market. Its own listed stock (BHMN, نماد خبهمن) is up nearly 90 percent over the past year and fell 2.02 percent on Wednesday, August 19.
Sahmino's Screen Finds 4 High-Momentum Tehran Stock Exchange Sectors for the Week Ahead; Data Through Friday, August 21, 2026
Screening Sahmino's own trading, money-flow and fundamentals data through Friday, August 21, 2026 (30 Mordad 1405), four Tehran Stock Exchange sectors, oil refining, basic metals, banks and automotive, show the most momentum for the coming trading week. Brent stood at $93.70 at 18:17 today; Tehran's free-market dollar closed Thursday evening at 1,894,050 rials. No individual stock is named; only the sectors themselves are examined.
The Steel and Materials Chain: From Iron Ore to Rebar on the Iran Mercantile Exchange, and Its Footprint in Housing Costs
Iran's steel chain, from iron ore and billet to rebar, gets priced on the Iran Mercantile Exchange's industrial and mining hall. This lesson explains how that chain works and why a move in rebar prices reaches home construction costs only partially, and with a lag.
Bitcoin Jumped Nearly 10 Percent Overnight to Cross $76,000, Global Gold Neared $4,560; Iran Market Pulse, Midday Friday, August 21, 2026
Bitcoin climbed nearly 10% in a day to reach $76,505 by 10:52 a.m. Tehran time today, Friday, 30 Mordad 1405; global gold hit $4,567.72. Wall Street fell overnight (Nasdaq down 1%). The Tehran Stock Exchange and Farabourse are closed today and tomorrow; in Tehran, 18-karat gold neared 20 million tomans and the Emami coin neared 200 million tomans.
Razak Pharmaceutical (DRZK) Has Risen About 176% Since Its June 15 Reopening, Closing Each Session Bid-Locked; Behind the Run, a Jump in Quarterly Profit and a P/E Below the Sector Average
Razak Pharmaceutical (DRZK), halted for roughly four months, has climbed nearly 176% from its June 15, 2026 reopening to August 19, closing that last session at 3,980 rials on a buy queue, with volume about five times the one-month average. Behind the run sits the interim statement for the three months to June 21, 2026, in which net profit rose more than 15-fold year over year and revenue grew 92%. Even so, the stock's P/E of about 8.8 is still below the pharmaceutical sector average.
Bitcoin Tops $72,000 to Its Highest Since Early June as the US Treasury Doubles Long-Term Bond Buybacks (Thursday, 20 August 2026)
Bitcoin climbed about 5.3% on Thursday, 20 August 2026, pushing past $72,000 to $72,415, its highest level since early June, according to CoinGecko and Sahmino data. The jump accelerated after the US Treasury said it would double buybacks of old long-term government bonds, a move markets read as indirect quantitative easing that weakens the dollar and lifts scarce assets like bitcoin. Around $1.5 billion of short positions were forced to cover.
Housing Boom and Bust Cycles: What the Price-to-Rent Ratio Tells You
What a housing cycle actually is, how to compute the price-to-rent ratio, and which indicators move before price itself signals a boom or a bust, with a real numeric example from Tehran and a look back at recent price-jump periods.
Trump Vows the "Most Crushing" Sanctions Yet on Iran; Iran Market Pulse, Midday Thursday, Aug 20, 2026: Global Gold Breaks Above $4,500 as Dollar, Gold and Coin Rise Together
Trump said early Thursday, August 20, 2026, that he will soon unveil the "most crushing economic action" in history against Iran, as Strait of Hormuz diplomacy stalled again and confirmed tanker transits fell 17 percent. Global gold broke above $4,500 for the first time in two months, trading near $4,485 by 11am Tehran time; Tehran's free-market dollar rose 0.63%, 18-karat gold 1.06% and the Emami coin 0.77%, while the coin premium fell roughly 40%. Tehran's bourse is closed today.
Global Gold Jumps Nearly 4% to a Two-and-a-Half-Month High; Tehran's Coin and Free-Market Dollar Rise Together (Wednesday, August 19, 2026)
On Wednesday, August 19, 2026 (28 Mordad 1405), global spot gold jumped nearly 4% to $4,511.04 an ounce, its highest since early June, according to Trading Economics and tgju.org. The main driver was a US Treasury move to boost long-bond buybacks; regional tension, including the UAE's suspension of ties with Iran, added to the rally, per Ecoiran. Tehran's Emami coin rose to about 198 million tomans and the free-market dollar to 188,600 tomans the same day.
The Money Behind Iran's Brokerages: Mofid Tops the Registered-Capital Ranking of the 10 Largest Tehran Brokerages With 1,000 Billion Tomans (Wednesday, August 19, 2026)
The registered capital of Iran's 10 largest Tehran Stock Exchange brokerages totals 5,735.1 billion tomans. Mofid leads with 1,000 billion tomans, followed by Pasargad Bank Brokerage (950) and Bank Mellat Brokerage (721.1). The gap from first to tenth place is 630 billion tomans, a 2.7x ratio, but registered capital alone does not measure a brokerage's real strength (August 19, 2026, 28 Mordad 1405).
Howard Marks' Lesson for Wartime Markets: Brent Above $91 and the UAE's Break With Iran, Explained for Tehran's Bourse (Wednesday, August 19, 2026)
On Wednesday, August 19, 2026, with Brent above $91 and world gold at a fresh record of $4,355, the UAE suspended all trade and financial ties with Iran. Howard Marks' advice for days like this is clear: you cannot predict a war, but you can prepare for what it does to Tehran's bourse. This Sahmino report maps the channels and three scenarios ahead.
How China's Yuan and Iran's Oil Are Tied Together
Why China's small independent refiners are the main buyers of Iran's oil, how that trade settles in yuan instead of dollars, and how China's own growth data ripples through to Tehran's currency and coin markets.
UAE Suspends Trade and Financial Ties With Iran; Iran Market Pulse, Midday Wednesday, 28 Mordad 1405 (Aug 19, 2026): Dollar and Coin Hold Steady as Global Gold Sets a Fresh Record
The UAE said Wednesday morning, 28 Mordad 1405 (Aug 19, 2026), that it is suspending all trade and financial relations with Iran until further notice, hours after claiming it intercepted two Iranian missiles near Dubai, which Tehran denied. As of 11:00 Tehran time, TEDPIX was up just 0.04% near 5,950,000 points, the dollar and the Emami coin held steady overnight, but global gold hit a record above $4,355 an ounce and Brent traded above $91 a barrel.
Persian Gulf-to-Asia Supertanker Rates Hit $510,000 a Day, Highest Since Late June, Right as the Iran-US 60-Day Ceasefire Lapses (Tuesday, August 18, 2026)
Daily charter rates for very large crude carriers (VLCCs) on the Persian Gulf-to-Asia route jumped to as high as $510,000 a day this week, the highest since late June. Per Bloomberg, one VLCC was chartered this week for $31 million to haul crude from the Gulf to East Asia, while only about 25 of the world's 486 VLCCs are willing to load in the Gulf. The surge coincides with the unextended lapse of the Iran-US 60-day ceasefire on Monday, August 17.
Global & Regional Equity Indices: From the S&P 500 to Tadawul and Borsa Istanbul
Stock indices are built from three different weighting families: price-weighted, market-cap-weighted and free-float-weighted. Meet the S&P 500, Saudi Arabia's Tadawul and Borsa Istanbul 100, and see why their numbers can never be compared directly to Tehran's non-free-float headline index.
Brent Crosses $90 as Strait of Hormuz Tensions Rise: Iran Market Pulse, Midday Tuesday, Aug 18, 2026; TEDPIX Hits 5.914 Million
Brent crude jumped more than 2.5% on Monday evening, August 17, to cross $90 a barrel, and sits near $91 today, Tuesday, August 18, 2026. The UK Maritime Trade Operations agency reported a fresh maritime incident in the Strait of Hormuz this morning, and Reuters reported Iran has shifted to an "offensive" posture. Meanwhile Tehran's TEDPIX rose 0.28% to 5,914,672 by 11am, while the dollar and domestic gold stayed calm.
Mobarakeh Steel Hits Buy-Queue Lock Monday, Gains 2.99%; Still 8.1% Below Its Pre-Halt Price
Mobarakeh Steel (نماد فولاد) closed at its daily price-band ceiling on Monday, August 17, 2026, up 2.99% with buy orders at every price level and zero sellers, one day after touching its lowest price since reopening. The stock, which resumed trading August 8 after a five-month halt, is still 8.1% below its last real pre-halt trade.
Ako Battery to List on Tehran Stock Exchange Wednesday, August 19, in a 29,206 to 32,934 Rial Price Range; Underwriter Values the Company at About 37,000 Billion Tomans
Ako Battery Iranian, the 11th new company to join the Tehran Stock Exchange in the Iranian year 1405, goes public Wednesday, August 19, 2026 (28 Mordad 1405), offering 4 percent of its shares (400.8 million shares) in a price range of 29,206 to 32,934 rials. Each trading code's allotment is 1,500 shares, and the offering's underwriter, Tamdon Capital, has valued the whole company at about 37,000 billion tomans.
Turkey's High Interest Rate Didn't Save the Lira: What Does That Mean for Iranians?
Turkey's central bank has held its policy rate at 37 percent, yet the lira keeps hitting new lows. This lesson explains the mechanism behind Turkish inflation and monetary policy, and shows how that decline reaches Iranian property purchases, trade, and money transfers.
Iran Market Pulse, Midday Monday, August 17, 2026: TEDPIX Jumps 2.3% Past 5.898 Million as Gold and Coin Retreat
Tehran Stock Exchange's TEDPIX index jumped 2.3 percent (132,479 points) from yesterday's close by 11 a.m. today, Monday, August 17, 2026, reaching a fresh record of 5,898,860 points, while the equal weighted index rose 2.28 percent. In the same hours, gold and coin prices in Tehran eased and the Emami coin's premium kept deflating, while the free market dollar held near 186,680 tomans with no significant change.
US Producer Inflation Cooled to 4.7% in July, Down From 5.5% in June, But the 10-Year Treasury Yield Stayed High (Sunday, August 16, 2026)
US producer prices (PPI) rose 4.7% year over year in July, down from 5.5% in June and softer than economists expected; a day earlier, consumer inflation had already come in calmer than feared. Yet the 10-year Treasury yield stayed elevated through Friday, August 14, a gap that keeps the path of the dollar and global gold, and from there Tehran's coin and gold prices, unsettled.
The UAE Dirham's Fixed Rate: Iran's Import Gateway and Remittance Corridor to Dubai
For nearly three decades the UAE dirham has held an almost fixed rate against the US dollar. That stability has made Dubai the main gateway for Iran's imports and its leading currency remittance corridor. This lesson covers the mechanism behind that link, the gap between Iran's official and free-market dirham rates, and Dubai's role in Iran's trade.
Noosh Mazandaran and Silva, One Day, Two Different Paths Into Iran's Capital Market: A 16.34 Percent Block Sale on the Tehran Stock Exchange and a Three-Day Silver Fund Subscription (Sunday, August 16, 2026)
On Sunday, August 16, 2026 (25 Mordad 1405), the Tehran Stock Exchange is offering a 16.34 percent non-controlling management block of Noosh Mazandaran (symbol Ghanoosh, "غنوش"), a stock trading at a P/E of 33 against a 6.48 sector average. At the same time, the Iran Mercantile Exchange opens a three-day subscription for Silva, Iran's 12th silver-backed fund, worth 200 million units. Noosh Mazandaran's sale is not an IPO; only Silva's is, and that distinction is the point of this report.
Emami Coin's Premium, Days After Spiking, Shrank 16.6 Percent Overnight; Iran Market Pulse, Midday Sunday, August 16, 2026
The Emami gold coin's premium, which had jumped more than 50 percent less than two weeks earlier, fell 16.61 percent (about 602,000 tomans) from the prior day on the evening of Saturday, August 15, 2026, to 3,625,000 tomans; Tehran's gold and coin market was broadly lower Sunday, August 16. Meanwhile TEDPIX was essentially flat at midday Sunday near 5,731,000 points, while the equal weighted index rose nearly 1.1 percent and Farabourse nearly 1.3 percent, leading today's advance.
Trump to Host Coinbase, Ripple and Kraken CEOs at the White House on Wednesday, August 19; CFTC's New Crypto Innovation Committee Holds Its First Meeting the Next Day
President Trump is expected to meet the CEOs of Coinbase, Ripple, Gemini, Robinhood, Polymarket and Kraken at the Eisenhower Executive Office Building next to the White House on Wednesday, August 19, 2026, according to CoinDesk and Bitcoin.com News; the SEC and CFTC chairs are also on the guest list. The meeting precedes the CFTC's new crypto Innovation Advisory Committee's first session on Thursday, while the CLARITY Act remains stalled in the Senate until Congress returns in September.
Every Day in Baghdad, an Auction Is Held: How Its Dollars Reach Tehran's FX Market
Iraq's central bank sells dollars for dinars to licensed banks and exchange houses every business day. This lesson explains how that auction works, why its official rate differs from Baghdad's free-market rate, and how that gap reaches Tehran's currency market.
No Crude Tanker Crossed the Strait of Hormuz for the First Time, Brent Hits $88; Iran Market Pulse, Midday Saturday, August 15, 2026
Saturday, August 15, 2026 (24 Mordad 1405): Reuters, citing Kpler shipping data, reported that no crude tanker crossed the Strait of Hormuz on Friday. A third ADNOC vessel was attacked in under two days, and Trump said he would declare Hormuz US "territory." Brent hit $88.52 a barrel at 4:53 am today. Tehran's TEDPIX, after three closed sessions, is nearly flat near 5,736,032 points as of 10:59 am, while gold and coin prices, down this morning, turned higher by midday.
Iran to Roll Out a 400 Million Toman Loan for Replacing Worn-Out Cars Next Week; Gap to the Cheapest New Car Still Tops 500 Million Tomans (Friday, 23 Mordad 1405)
Farshad Moghimi, deputy industry minister and head of Iran's IDRO, said Friday, 23 Mordad 1405 (August 14, 2026) that a revised bylaw on replacing worn-out ("frasudeh") cars takes effect next week, offering up to 400 million tomans in bank financing per vehicle. That sum, plus up to 180 million tomans in scrappage certificates, still falls more than 500 million tomans short of the cheapest new car Sahmino tracks, the Saipa Pride 151 GX at roughly 1.15 billion tomans.
Iran's Rent Inflation Hit a Cooling Point in Tir 1405, But Real Tehran Leases Jumped Up to 100% the Same Season (Friday, August 14, 2026)
Iran's Statistical Center says rent posted the slowest point-to-point inflation, 31.7%, of any major household spending category in Tir 1405 (roughly June 22 to July 22, 2026), against 87.9% headline inflation. But a Majlis Research Center review reported by Khabaronline on August 8 found real Tehran leases signed this moving season jumped 70 to 100%. The calm official number and the real market tell different stories.
BBC Persian Calls Tehran's Bourse Iran's Best-Performing Market; TEDPIX's 52% Gain Against 87.9% Point-to-Point Inflation (Aug 14, 2026)
A recent BBC Persian report cited roughly 52% growth in Tehran's TEDPIX index since the war began and called the bourse Iran's "best-performing market" against inflation, the dollar and gold. But TEDPIX closed Tuesday, August 11, 2026 at 5,736,485 points while Iran's Statistical Center's latest annual inflation reading (Tir 1405) is 66%, with point-to-point inflation at 87.9%, a gap that undercuts the "best-performing market" conclusion on methodological grounds.
The Fed's Chain to the Toman: How One Decision in Washington Reaches Tehran's Free Dollar and Coin
This lesson builds the full chain: how the Fed's interest rate moves the Dollar Index, how the Dollar Index moves the global gold ounce, and how that ounce, together with Tehran's free market dollar rate, sets Iran's gold and coin prices. With a labelled hypothetical and dated, sourced real figures.
Market Pulse, Midday Friday, August 14, 2026: Brent Hits the $88 Range After an Attack on Two ADNOC Ships in the Strait of Hormuz, Near a 4% Weekly Gain
Friday, August 14, 2026: The UAE said Iran targeted two ADNOC ships transiting the Strait of Hormuz on Thursday evening and called it piracy. Brent crude jumped into the $88 range and, per global market reports, is on course for a nearly 4% weekly gain. Global gold slipped, but Tehran's gold and coin market got more expensive, according to the Tehran Gold and Jewelry Union. Tehran's bourse and free currency market stayed quiet for the weekend.
