BAKU, Azerbaijan, March. 9
Trend:
Despite inflationary pressures, the CBI did not let a huge rise in the foreign exchange rate, the CBI governor said.
“Providing foreign exchange for basic goods, medicines and livestock feeds, raw materials for production units, supporting economic growth, controlling liquidity, curbing inflation, preventing hyperinflation and so-called economic collapse are among the most important achievements of the central bank in the last two and a half years,” the governor of Central Bank of Iran (CBI), Abdul Nasser Hemmati, said on Monday evening at the meeting with the managers of the banking system, Trend reports citing Mehr News Agency.
He said that the past two and a half years have been one of the most difficult and unprecedented conditions in the country in terms of economic and even political pressures.
"But despite all the pressures and restrictions, the performance of the central bank is defensible in various sectors,” Hemati added.
Noting that the average oil revenue of the country was between 40 and 60 billion dollars in previous years, he says that the total oil revenue of the country in the last two years was less than $20 billion.
"While the central bank's commitment to providing foreign exchange in current Iranian year (started on March 20, 2020) was about $8 billion, it has provided $10 billion foreign exchange at the official rate (42,000 rials per dollar),” said Hemmati.
He recalled that “The exchange rate had reached about 200,000 rials per dollar in September 2018, and now, after two and a half years and despite sanctions, reduction of foreign exchange earnings, inflationary pressures, and psychological propaganda, the foreign exchange rate has not increased much (today on Tuesday, a dollar is trading at 245,000 rials)
He noted the positive economic growth of the country in the first 9 months of the current Iranian year (started on March 20, 2021).
Noting that he had given the necessary warnings about the capital market, he said that the Central Bank has supported the capital market to the best of its ability.