Iran's liquidity hits $344B

Business Materials 26 September 2016 12:59 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Fatih Karimov – Trend:

Liquidity in Iran exceeded 10.82 quadrillion rials (each 31,430 rials making one USD) by July 21.

The figure indicates a rise by 30 percent compared to the same period last year, the Central Bank of Iran (CBI) reported Sept. 26.

The volume of banknotes and coins possessed by the population in Iran was worth 324.9 trillion rials by July 21, indicating a rise by 6 percent year on year.

The money volume increased by 24.2 percent year on year and amounted to 1,394.5 trillion rials by July 21, meanwhile the liquid liabilities (broad money) stood at 9,424.3 trillion rials (30.9 percent more year on year).

Following the removal of international sanctions, the Iranian administration planning to hit an eight percent economic growth in the post-sanctions era, announced that the country is seeking to annually lure up to $50 billion worth of foreign investment.