Financial Tribune - Iran's main stock index rose to its highest level in five months on Monday, led by the material sector, as investor sentiment was lifted by robustness of the global economy and high foreign exchange rates in Iran.

Monday marked the penultimate trading day of the outgoing year and the rally put Tehran Stock Exchange on a nine-day winning streak. The bull market is astonishing because traditionally stocks are in doldrums in the yearend. But a chain of events created the best month for Iranian stocks on record.

The USD exchange rate in Tehran was still above the support level of 130,000 rials on Monday.