Administration of Iran's ex-president printed 5 times more money than predecessors
Azerbaijan, Baku Aug. 29 / Trend, N. Umid, S. Isayev
Iranian ex-president Mahmoud Ahmadinejad`s administration (August 2005 - August 2013) has printed money about 5 fold more than the previous administrations, Khabar online news portal reported citing Iranian Central Bank's statistics.
According to the report, Iran's money volume was about 56 trillion rials in 2005, while the figure reached some 338 trillion rials in the first three months of the last solar year (ended on March 21), which indicates that some 280 trillion rials have been printed during Ahmadinejad`s presidency.
For the being time, official rate of US dollar is 24,807 rials per each USD.
Banknotes shared some 6 percent of the country's liquidity in 2005, while the figure has stood at 11 percent in the first three months of the last solar year.
The share of Iranian Bank system from banknotes circulation was about 10 percent in 2005.
The figure reached 31.7 percent in the first three months of the last solar year.
Iran's liquidity figure reached $185.77 billion at the end of last solar year, while the figure was $27.66 billion when ex-president Mahmoud Ahmadinejad took office which indicates a 6.7 fold increase, Iranian Khorasan newspaper reported about a week ago.
The newspaper reported that, Iran held 8th spot among 161 countries with 33 percent growth of liquidity during last year, citing World Bank's report.
Iran's newly elected president Hassan Rouhani has announced that, reducing growth of liquidity is among his government's priorities.