Central bank of Iran increases capital to $2.3 billion
Azerbaijan, Baku, Mar. 30/ Trend F.Milad/
The Iranian administration has approved a proposal by the bank's general assembly meeting for increasing its capital to 28 trillion rials (some $2.3 billion) from 25 trillion rials, Mehr news agency reported.
Iran's central bank allowed trading in its currency at market levels after fixing the exchange rate in January as the threat of sanctions over the country's nuclear program and economic risks spurred Iranians to buy up dollars.
The bank on Jan. 26 fixed the rate at 12,260 after the U.S. dollar surged to almost double that level in unofficial currency markets as Iranians concerned over the economy rushed to buy.
U.S. President Barack Obama ordered a freeze on all Iranian government and financial institutions' assets that are under U.S. jurisdiction, the White House said on February 10.