Baku: Iran's stock market was shut and will remain closed until further notice to protect the assets of citizens and companies, Economy Minister Ali Madanizadeh said on Saturday, APA reports, citing iranintl.com.

According to Azeri-Press News Agency, the decision to keep the stock exchange closed is part of a broader effort by the government to mitigate economic risks and ensure the financial stability of the country's market amid ongoing uncertainties. The measures are seen as a precautionary step to safeguard investments and prevent potential market disruptions.

The temporary closure of the stock exchange reflects the government's focus on maintaining the integrity of the financial system while addressing external and internal economic challenges. The authorities have not provided a specific timeline for when the stock market will reopen, indicating that the situation will be continuously reviewed to determine the appropriate time for resumption of activities.