BAKU, Azerbaijan, December 7. The foreign assets of the Central Bank of Iran (CBI) fell by 5 percent at the end of the 5th month of the current Iranian year (August 22, 2023), compared to the same period last year, Trend reports.
According to CBI data, the value of Iran's Central Bank's foreign assets at the end of the fifth month was roughly 7.2 quadrillion rials (about $171 billion).
Meanwhile, at the end of the fifth month of last year (August 22, 2022), this sum stood at 7.56 quadrillion rials (about $180 billion).
At the same time, the value of total (domestic and foreign) assets of the CBI amounted to approximately 17.3 quadrillion rials (about $412 billion) by August 22, 2023, representing a 44.2-percent growth compared to 12 quadrillion rials (about $286 billion) by August 22, 2022.
Iran was removed from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system in 2018 when the US imposed new sanctions and expanded sanctions against Iran in connection with Iran's nuclear program.
The removal of Iran from this system created serious problems for the country's operations with world banks. This resulted in the fact that the branches and properties of Iranian banks in many countries remained almost unused.
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