Iran’s foreign-exchange reserves surpass $100 billion
Azerbaijan, Baku, Oct.26/ Trend R.Zamanov/
Iran's foreign-exchange reserves stand at over $100 billion, the Chairman of Majlis Budget and Planning Committee Gholam Reza Mesbahi Moghadam said on Saturday.
"Once the sanctions are lifted Iran would face no problem in regards to foreign-exchange reserves," the Mehr News Agency quoted Mesbahi Moghadam as saying.
"Iran's reserves are not currently in cash, but the country hold enough foreign-exchange reserves," he said.
Mesbahi Moghadam went on to note that the National Development Fund of Iran also holds over $30 billion .
It is while, the board of directors of the National Development Fund of Iran announced on October 26 that that the fund holds $18.1 billion.
Iranian first vice president Es'haq Jahangiri also said on October 21 that the fund holds $32 billion, the Mehr News Agency reported.
The previously announced figures indicate that the fund held over $50 billion, but the figures are not genuine. It holds just about $32 billion, he explained.
On October 7, the Fars News Agency quoted the ex-director of the fund, Mohammadreza Farzin, as saying that the fund's assets amount to $54.6 billion.
The National Development Fund of Iran has provided $23.6 billion for implementing 376 projects in the country so far, he added.
In the Iranian calendar year 1390 (March 2011-March 2012), 10 percent of the fund' assets was allocated to the agriculture sector. In 1391 and 1392, the figure rose to 20 percent, he noted.
Iran transfers 20 percent of its oil revenues to the NDF.