• A setback in Iranian stocks with a 2000 point plunge by Zarif's resignation




    *AlEqtisadiah from Riyadh


    The Iranian stock market fell about 2,000 points due to news of the resignation of Foreign Minister Mohammed Jawad Zarif.


    According to Reuters, Zarif announced his resignation in a post on Instagram, but President Hassan Rowhani did not confirm his acceptance of the resignation.

    The parliament will discuss at its next meeting the resignation of the foreign minister, as Ali Najafi Khoshrodi, spokesman for the National Security and Foreign Policy Committee that will hold a meeting at the council, said, "I stress that we need more solidarity and unity, especially under the current international circumstances and because of American pressure, internal problems and sanctions."


    The Iranian riyal resumed its downward flight after a period of stability against foreign currencies.

    The Iranian media reported the fall of the riyal against the dollar and other foreign currencies.

    The price of gold bullion in the Iranian exchange market also witnessed a remarkable rise, as the price of the US dollar woth140 thousand riyals against one dollar compared to 120 thousand last week.


    The value of the gold bullion reached about 50 million riyals, the highest rate recorded during the last three months.

    The Iranian currency has seen a new wave of decline since last week after the dollar was between 120 thousand and 125 thousand riyals, but suddenly fell last Thursday to 130 thousand.


    There were earlier reports of Zarif's intention to resign due to mounting disagreements between the regime's wings over the outcome of the nuclear deal, where the hardliners see that Iran made great concessions in return for not getting anything, especially after America left the agreement.


    Iranian factions have criticized Rohani and Zarif after the United States withdrew from the nuclear deal in May, as it has again imposed sanctions on Iran's economy and its oil sector, which is the lifeblood of the country.

    The sanctions were lifted under the agreement​

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