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Iran plans ongoing gradual decrease in liquidity

Business Materials 2 September 2015 15:44 (UTC +04:00)

Baku, Azerbaijan, Sept. 2

By Fatih Karimov - Trend:

Iran's top bank official said the country plans to continue with policies aimed at a gradual decrease in liquidity growth.

"Continuing with gradual decrease in liquidity is among our plans. A 22.7 percent increase in liquidity in the Iranian year of 1393 (ended on March 21) compared with the 39.3 percent of liquidity fixed in the previous year proves this trend," SHANA quoted the head of Iran's Central Bank, Valiollah Seif as saying on Sept. 2.

He also noted that the bank set as a goal dropping the inflation rate under 10 percent. The rate of inflation was around 15.4 percent in the mid-August 2015, according to official statistic.

Last week, Peyman Qorbani, vice president of the Central Bank of Iran said liquidity growth in Iran declined 6.6 percent at the end of the fourth Iranian calendar month (July 22).

Liquidity in the country amounted to 7,820 trillion rials (about $240 billion) in the past Iranian fiscal year, a 22.3 percent rise year-on-year, while it was 670 trillion rials (about $20 billion) ten years ago, when the administration of former president Mahmoud Ahmadinejad started.

Edited by CN

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