Baku, Azerbaijan, July 27
By Emil Ilgar – Trend:
Iran’s liquidity has increased by 0.9 percent to 12,641 trillion rials ($386 billion) in the first months of the current fiscal year (started on March 21), compared to the previous month.
Currently the official USD rate in Iran is 32,750 rials.
According to a report, released by Central Bank of Iran, the government debts to local banks have also increased in the first month of the fiscal year (March 21 to April 21) by 21.3 percent to 2,252 trillion rials ($68.7 billion), compared to the same period last year.
Central Bank’s reserves also stood at $102.9 billion.
The high growth of liquidity in Iran has led to high inflation rate. The inflation rate in Iran in 2005 was about 10.4 percent, but in mid-2013, when Iranian president Hassan Rouhani came to power, the inflation rate and point-to-point inflation rate were 37.5 percent and 44 percent, respectively.
Meanwhile, during Rouhani’s presidency the inflation rate decreased to single-digit level.
However, according to the Statistics Center of Iran, the inflation rate in urban areas for a 12-month period ending in the fourth Iranian calendar month of Tir (ended on July 21) stood at 7.6 percent, 0.2 percent more compared to the preceding month.