Iran’s liquidity surpasses $200B
Baku, Azerbaijan, Oct.5
By Fatih Karimov - Trend:
The volume of liquidity in Iran exceeded $200 billion in the fifth Iranian calendar month of Mordad, which ended on August 22.
Iranian central bank vice governor Abolfazl Akrami said that the figure rose 30.3 percent compared to the figure corresponding to the fifth month of the past year, Iran's Fars news agency reported on October 5.
USD exchange rate in Iran is currently about 32,000 rials.
The liquidity growth rate in Iran has doubled during President Hassan Rouhani's first year incumbency, statistics of the Central Bank of Iran show.
The volume of liquidity has increased by $34 billion since Rouhani took office in August last year, Iran's Tasnim news agency reported on June 18.
This is while liquidity had grown by around $16 billion between 2005 and 2013.
The Iranian administration may issue $32 billion worth of bonds to settle its debt to the national banking system.
Iranian deputy economy minister Shapour Mohammadi said $32 billion worth of shares of state-run companies can be divested in this regard, Iran's Mehr news agency reported on August 23.
However, the exact amount of the administration's debt to the banking system is not up to date, he added.
Iran's economy minister Ali Tayyebnia said on August 19 that the administration owes more than $21.5 billion to the national banking system, Iran's Fars news agency reported.
Iran will set up a special legal complex to deal with bank loan defaulters.
Tayyebnia said on June 18 that the real value of the Iranian banking system's bad loans is $47 billion.