Iranian economist Saeed Laylaz revealed to the “Financial Times” newspaper, how Iran deceived 3 million of its citizens in the stock exchange, describing the recent selling wave in the market as a bubble that was inflated by the Iranian government and accompanied by a record buying wave by citizens who came for the first time to the money market. And then that bubble burst, according to Al-Arabiya Net.
Iranian media outlets, according to the Financial Times newspaper, estimate the number of new Iranian individual investors in the financial market at about 3 million citizens who entered the market from last March to July, compared with only about 600,000 investors before the government asset sale program adopted by Tehran last March.
A government source in Tehran told the British newspaper that the average per capita purchase of shares offered by the government did not exceed a handful of hundreds of dollars.
But with the decline in the value of the currency and the losses suffered by the stocks evaporated the hopes of the Iranians to secure their life needs, which are severely affected by the devaluation of the currency and the US sanctions imposed on Tehran by its nuclear program.
A young Iranian woman explained how she lost her money on the Iranian stock exchange, saying: “I invested about 100 million riyals of my savings in the stock exchange last June (equivalent to $ 524 at the time) … What happened during that period is that the price of the washing machine that I intended to buy almost doubled, while the value decreased. My shares in which I invested about 80%.
the final destination
Maciej Wojtal, chief investment officer at Amtelon Capital, one of the very few foreign hedge funds investing in Iran, says citizens have been drawn into investing in the money market due to government moves, which has prompted many citizens to sell their properties to invest in the market and ultimately lose their money. .
The Iranian government resorted to the idea of selling its assets earlier this year with the escalation of pressure due to the consequences of the Corona pandemic, which the government estimates will cause about 5 million citizens to lose their jobs, representing about 20% of the total workforce in the country.
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