Articles
Neutral, dated analysis and explainers across Iran’s markets.
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.
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.
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).
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 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.
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."
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Turkish Lira Hits Fresh Record Low of 47.76 Against the Dollar on Wednesday; Turkey's Central Bank Releases Its Quarterly Inflation Report Tomorrow
The Turkish lira touched a fresh all-time low against the US dollar on Wednesday evening, August 12, 2026, crossing 47.75, even as annual inflation eased for a fourth straight month. The Central Bank of the Republic of Turkey (TCMB) releases its quarterly Inflation Report tomorrow, Thursday, August 13, a release that has historically moved the lira. The move matters for Iran's market too, since much of Iran's overland import trade and outbound travel runs through Turkey.
Tehran Dollar Jumps 1.19 Percent Tuesday, Ending a Five-Day Slide, to Reach 187,800 Tomans (20 Mordad 1405)
Tehran's free-market dollar, which fell for five straight sessions from Wednesday, August 5 to Monday, August 10, 2026, its longest losing streak of the year, to a one-month low, jumped about 1.19 percent (2,200 tomans) on Tuesday, August 11 to reach 187,800 tomans. Gold and the Emami coin rose in tandem, while Brent crude jumped nearly 5 percent above $87 as a Strait of Hormuz risk premium returned to markets.
Ehya Locks Limit Up for a Second Session; New Fara Bourse Listing Trades 36 Percent Above Its IPO Price (Tuesday, 20 Mordad 1405)
Ehya (FLBZ), the newest Fara Bourse listing, rose 2.98 percent to its price ceiling of 3,520 rials on Tuesday, 20 Mordad 1405 (August 11, 2026) and stayed locked in a buy queue, meaning the stock is now about 36 percent above its 2,582 rial IPO discovery price after just two sessions. Only 4 percent of the sponge iron producer's shares are freely traded, and institutions were today's net sellers.
Brent Crude Jumps Nearly 5% in a Day to Top $87 as Iran Ties Hormuz Reopening to Six Conditions and Houthis Claim Drone Strike on Saudi Jazan Refinery (Monday, August 10, 2026)
By Monday evening, August 10, 2026 (19 Mordad 1405), Brent crude had jumped nearly 5% to top $87 a barrel. Sahmino's own feed put it at $87.25 at 20:37 Tehran time, in line with TGJU ($87.48) and Oilprice.com ($87.37). The trigger: Iran's Supreme National Security Council tied any Hormuz reopening to six conditions, while Yemen's Houthis claimed a drone strike on Saudi Aramco's Jazan refinery.
Iran's Emami Coin and Melted-Gold Premiums Turn Negative on Monday, August 10, 2026; Quarter-Coin Premium Still Around 10 Percent
At midday Monday, August 10, 2026, Iran's Emami coin and melted-gold premiums fell below zero for a second straight session. Per Alanchand at 12:35 Tehran time, the Emami coin traded 1.43% and melted gold 3.67% below intrinsic value. A day earlier Ecoiran reported the half-coin premium briefly went negative for the first time in months. The quarter coin's premium held near 10%.
Tehran Bourse Retail Turnover Hit a Record 65 Trillion Tomans on Sunday; the Same Day Saw a 6.9 Trillion Toman Retail Outflow
Retail trading value on the Tehran Stock Exchange topped 65 trillion tomans on Sunday, 18 Mordad 1405 (August 9, 2026), an all-time record. The same day, about 6.9 trillion tomans of retail money left the market net, reversing a five-session run of retail buying. TEDPIX still closed up 0.72 percent at 5,559,964 points.
Tehran Rents Jump 70 to 100 Percent This Moving Season; Parliament Research Center Lists 4 Fundamental Flaws in the Rent Cap Law (Saturday, August 8, 2026)
Tehran rents have risen 70 to 100 percent this moving season despite a legal rent cap, automatic lease renewal and housing deposit loans. A fresh Parliament Research Center review of Article 7 of Iran's 2024 land, housing and rent market law says the cap has no renewal mandate behind it and covers only 98 of the country's 933 cities (Khabar Online, Saturday, August 8, 2026).
Emami Coin Hits 190 Million Tomans on Saturday, August 8; Dollar's Pullback Didn't Offset Global Gold's Pressure
On Saturday, August 8, 2026 (17 Mordad 1405), Iran's Emami gold coin reached about 190 million tomans in Tehran, less than two hours after Sahmino's own midday Market Pulse had logged it flat at 185,020,000 tomans. 18-karat gold rose nearly 2.1 percent too, while the free-market dollar eased slightly and global gold held near its seven-week high at 4,343 dollars.
US Economy Shed 23,000 Jobs in July; Gold Jumps 2.7% to $4,355, Silver Up 4.25% (Friday, August 7, 2026)
The US jobs report for July showed the economy lost 23,000 jobs, against forecasts of roughly 80,000 to 83,000 new jobs; the unemployment rate unexpectedly fell from 4.2% to 4.1%, but only as labor force participation dropped to its lowest since 2021. In reaction, spot gold jumped about 2.7% to $4,355.04 on Friday, August 7, 2026, and silver rose 4.25% to the $64.20 area.
Six Saudi Tankers Take the 56 Day Route Around Africa; Cost Per Voyage Rises by 2 to 2.5 Million Dollars (Monday, 3 August 2026)
Maritime intelligence firm Windward reported on Monday, 3 August 2026 that a Saudi tanker sailing via the Cape of Good Hope will take 56 days, against 24 days through Bab el-Mandeb; cost per voyage is up by 2 to 2.5 million dollars and at least six tankers have rerouted. The same day Brent fell 5.34 percent to 83.47 dollars. The paper market priced de-escalation while the physical map of oil transport moved the other way.
861,285 Applicants for 53,900 Cars: Odds in Iran Khodro's Ordinary Lottery Scheme Fall to 2.22 Percent (Monday, 3 August 2026)
In Iran Khodro's fourteenth sales round, whose lottery was drawn on Saturday 10 Mordad 1405 (1 August 2026), 861,285 people registered for 53,900 vehicles. In the ordinary scheme, 729,101 applicants competed for 16,170 units, a win rate of 2.22 percent, or one person in 45. But the prize has shrunk too: the gap between market and factory price on base models has fallen into single digits, and the rent has retreated into a handful of specific models.
Iran raises the National Housing Movement loan ceiling from 650 to 850 million tomans; a parliamentary committee says it still falls short (Sunday, 2 August 2026)
Iran's Central Bank High Council raised the National Housing Movement individual loan ceiling from 6.5 to 8.5 billion rials, that is from 650 to 850 million tomans. The increase covers only supported projects whose land the Roads and Urban Development Ministry supplies, and was extended to projects more than 65 percent complete. On Sunday, 2 August 2026, a member of parliament's Construction Committee called the figure insufficient. This report measures the loan against what building costs.
2,582 MW of New Thermal Power Capacity Came Online for 1.4 Billion Euros; Parliament Estimates Illegal Crypto Miners Draw About 2,000 MW (Saturday, 1 August 2026)
Iran's Thermal Power Plant Holding Company said on Saturday, 10 Mordad 1405 (1 August 2026) that 2,582 MW of new capacity has come online since last August on investment of more than 1.4 billion euros, with about 2,000 MW of it going directly to industry. The same day, the head of parliament's power committee said estimates put illegal crypto mining at roughly 2,000 MW of national capacity. Two numbers of the same size, on one day.
Which Model Offers the Biggest Gain in Iran Khodro's Latest Instant Sale? (Monday, July 20, 2026)
Iran Khodro has offered four models in its latest instant-sale round with 30-day delivery. A comparison of factory and market prices shows a buyer gain of 72 to 242 million tomans and a margin of roughly 4.5% to 12.8%; the manual Tara tops the table and the Soren Plus sits at the bottom.
Bank Novin Sets Dividend Payment Schedule: SEJAM Holders Paid From August 19, Last Group Waits Until October 21, 2026
Bank Eqtesad Novin (Tehran Stock Exchange ticker: Vanovin) has announced its dividend payment schedule for the fiscal year ended March 20, 2026. SEJAM-registered shareholders are paid from August 19, 2026; non-SEJAM individuals and funds from September 22; and other non-SEJAM legal shareholders from October 21.
Iran's Dollar Crosses 180,000 Tomans, Coin Premium Jumps 6.85%; Why Did Global Gold Fall at the Same Time? (Thursday, July 9, 2026)
Iran's free-market dollar crossed 180,000 tomans early Thursday, July 9, 2026 (18 Tir 1405), reaching 180,195 tomans. The same week, the Emami coin's premium jumped 6.85% to about 7,091,000 tomans, even as global gold fell for a second straight day. The widening gap is a live gauge of domestic fear.
Bank Mellat Announces Four-Stage Dividend Payment Schedule; SEJAM-Registered Shareholders Paid Last, From August 1 (Thursday, July 9, 2026)
Bank Mellat announced a four stage dividend payment schedule for the fiscal year ended March 20, 2026: non-SEJAM individual shareholders from June 5, investment portfolios from July 6, SEJAM-registered shareholders from August 1, and non-SEJAM corporate shareholders from August 21, 2026, an order that puts SEJAM shareholders, against expectation, last in line.
Competition Council Calls Iran's 15% Car Price Hike Insufficient; Tehran Bourse's Automaker Stocks Caught Between Codal Rally and War Selloff (Thursday, July 9, 2026)
Iran's Competition Council (session 758, July 8, 2026) again ruled the Industry Ministry's approved 15% car price hike falls short of the Protection Organization's justified 25%. The dispute lands on Tehran Bourse's automaker stocks, Khodro, Khasapa, Khegostar and Khbahman, a group that rode a Codal-driven rally in Khordad but now faces selling pressure from the collapsed Iran-US ceasefire.
Trump Declares Iran Ceasefire "Over"; Rial Smashes Through 180,000 Toman, Tehran Stock Exchange Sheds 52,000 Points (Wednesday, July 8, 2026)
Donald Trump told the NATO summit in Ankara that the ceasefire with Iran is "over." Hours later, on Wednesday, July 8, 2026 (17 Tir 1405), Iran's free-market dollar broke through 180,000 toman and the Tehran Stock Exchange's main index fell 52,012 points (1.9%) to the 2.68 million range. Brent crude jumped about 7% globally.
Competition Council Deems Ministry's 15% Car Price Hike Insufficient; Refers Case to Oversight Bodies (Wednesday, July 8, 2026)
At its 758th session on July 8, 2026 (17 Tir 1405), Iran's Competition Council found a 15% domestic car price increase approved by the Industry Ministry fell short of the roughly 25% the Support Organization had calculated as justified, and referred the Ministry's deviation from Directive 543 to oversight bodies.
Shepna and Shabandar Rally as Brent Tops $76; How the $19 Summer Crack Spread Feeds Refiner Profits (Wednesday, July 8, 2026)
On the first Tehran Stock Exchange session after Brent crude jumped above $76.04 (Tuesday, July 7), refiners Shepna and Shabandar gained 2.87% and about 0.65%. With the feedstock formula set at 95% of the Brent, Dubai and Oman average and this summer's approved crack spread near $19 a barrel, this piece traces the mechanism linking global oil prices to listed refiners' profitability (Wednesday, July 8, 2026).
US Revokes Iran Oil Sales Waiver; Brent Crude Tops $76 After Attacks on Three Tankers in Hormuz (Wednesday, July 8, 2026)
The US Treasury revoked Iran's dollar oil sales waiver (General License X) on Tuesday, July 7, 2026, hours after an attack on three tankers in the Strait of Hormuz, replacing it with a narrower "General License X1." No new sales are authorized, and in-process transactions have until July 17 to settle. Brent crude jumped to $76.04 a barrel in after-hours trading in response.
China's Purchases of Iranian Crude More Than Halved in June Despite Sanctions Waiver; Over 20 Million Barrels Now Stranded at Sea (Tuesday, July 7, 2026)
China's imports of Iranian crude fell to about 654,000 barrels a day in June 2026, more than halving from a month earlier, despite Washington's temporary sanctions waiver effective June 22. Over 20 million barrels of Iranian oil are now idling at sea, up 18% week on week (July 2 and July 6, 2026, per Bloomberg and CNBC).
Russia's Urals Crude Sinks to $41.66 a Barrel, Below Pre-War Levels, Deepening the Kremlin's Budget Squeeze (Monday, July 6, 2026)
Russia's Urals crude averaged $41.66 a barrel in early July, its lowest level since before the Iran-Israel-US war. Its discount to Brent has widened to $27.35 a barrel, compounding a budget already squeezed by a 45% drop in Q1 2026 oil and gas revenue (Monday, July 6, 2026).
Tehran Stock Exchange Reopens Tomorrow; Gold and Coin Hit Records During Closure, Dollar Holds Near 175,600 Tomans (Monday, July 6, 2026)
The Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange and Iran Energy Exchange, closed since Wednesday, July 1 (10 Tir), reopen tomorrow, Tuesday, July 7 (16 Tir 1405). During the six-day closure, 18-karat gold and the Emami coin hit fresh records while the free-market dollar held near 175,600 tomans; meanwhile OPEC+ raised August output, US bitcoin ETFs returned to net inflows, and analysts flagged unresolved questions over options-contract maturities.
OPEC+ Raises August Output by 188,000 Barrels a Day as Persian Gulf Exports Through the Strait of Hormuz Top 10 Million Barrels (Sunday, July 5, 2026)
Seven core OPEC+ producers agreed at a virtual meeting on Sunday, July 5, 2026, to raise August output by 188,000 barrels a day. As the Strait of Hormuz gradually reopens following the Iran-US ceasefire, total daily oil flows through the strait have topped 10 million barrels, and Brent crude trades near $72 a barrel.
Tara Jumps 195 Million Toman in a Day as Iran's Free-Market Car Prices Surge Despite a Flat Dollar (Sunday, July 5, 2026)
On Sunday, July 5, 2026 (14 Tir 1405), the free-market price of the Tara Automatic V4 jumped 195 million toman (about 7.7%) in a single day to 2.72 billion toman; the Peugeot 207 Automatic Panorama rose 60 million toman to the same level, and the Dena Plus Automatic gained 35 million toman. The moves came on a day the free-market dollar barely moved, trading around 175,000 toman.
US Bitcoin ETFs Turn Positive After 10-Day Outflow Streak; Bitcoin Tops $62,000 (Sunday, Tir 14, 1405 / July 5, 2026)
US spot Bitcoin ETFs posted a $221.72 million net inflow on Thursday, July 2, 2026, ending a 10-day, $2.7 billion outflow streak, the largest single-day intake in two months. Bitcoin rose 1.74% to $62,512 by Saturday, July 4, and BlackRock's new staked Ethereum fund pulled in $100 million on its debut day.
Saudi Oil Exports Through Strait of Hormuz Hit 6.3 Million Barrels a Day; OPEC+ Nears August Output Hike (Saturday, July 4, 2026)
Saudi Arabia's crude exports through the Strait of Hormuz have climbed to 6.3 million barrels a day, per Bloomberg and CNBC (July 1 to 2, 2026), nearing pre-war levels after the Iran-US ceasefire. OPEC+ is preparing another roughly 188,000 bpd increase for August, as Iran holds its own 60-day US oil license.
Iran's Four Capital Market Pillars Close for Three Days; Trading Resumes Tuesday, July 7 (Saturday, July 4, 2026)
The Tehran Stock Exchange, Iran Fara Bourse, Iran Mercantile Exchange and Iran Energy Exchange are closed from Saturday, July 4 through Monday, July 6, 2026, with trading set to resume Tuesday, July 7, per the Securities and Exchange Organization. The last session, Wednesday, July 1, closed with the main index up 1.16% at 5,187,258 points; it is the second major capital-market shutdown of the year, after an 80-day halt from late February to mid-May.
Global Gold Pulls Away From Seven Month Low; Ounce Tops $4,180 (Friday, July 3, 2026)
Global gold rose about 1.3 to 1.5 percent to $4,176 to $4,183 an ounce on Friday, July 3, 2026, pulling further from last week's seven to eight month low, after a weak June US jobs report. Iran's domestic 18 karat gold reached roughly 17.5 million tomans a gram.
Emami Gold Coin Hits 178 Million Toman as Its Premium Widens 44% in a Week (Thursday, July 2, 2026)
Iran's Emami gold coin jumped nearly 5 million toman on Thursday, July 2, 2026 (11 Tir 1405), reaching 177 to 178 million toman. Per Sahmino's own prior report, the coin's premium over its intrinsic gold value had already widened 44% in the week to July 1, hitting 7,863,000 toman. The main driver: the free-market dollar's roughly 9% weekly surge and political uncertainty around the Iran-US-Israel ceasefire.
