CIA: Iran’s foreign exchange reserves up by $25.5B in 2016

Business Materials 24 January 2017 08:27 (UTC +04:00)

Baku, Azerbaijan, Jan. 24

By Khalid Kazimov – Trend:

The US Central Intelligence Agency (CIA) has suggested that the value of Iran’s reserves of foreign exchange and gold increased by $25.5 billion over 2016.

The CIA report estimated Iran’s reserves of foreign exchange and gold at $135.5 billion as of December 31, 2016.

According to the estimations, the figure for 2015 stood at $110 billion.

The entry on reserves of foreign exchange gives the dollar value for the stock of all financial assets that are available to the central monetary authority for use in meeting a country's balance of payments needs as of the end-date of the period specified. This category includes not only foreign currency and gold, but also a country's holdings of Special Drawing Rights in the International Monetary Fund, and its reserve position in the Fund.

According to the CIA report, Iran has ranked 17th among 170 countries in terms of foreign exchange reserves.

China with $3.092 trillion of reserves of foreign exchange ranked the first.