Baku, Azerbaijan, April 11
By Gazenfer Hamidov – Trend:
The volume of banknotes and coins in possession by the Iranian population registered an increase by 13.6 percent by Feb. 20 (end of 11th Iranian calendar month in last fiscal year), according to the latest data of Central Bank of Iran (CBI).
The figure hit 365.3 trillion rials (Each USD made 37,700 rials at the time) by Feb. 20, compared to 358.1 trillion rials by the end of the preceding Iranian month (Jan. 20), according to the latest data released by CBI.
However, the figure was 7.1 percent less compared to the beginning of the corresponding fiscal year (started March 20, 2017).
The money volume increased by 21.7 percent year-on-year and amounted to 1,853.1 trillion rials by Feb. 20, while the near money stood at 13,043.3 trillion rials (23.2 percent more year-on-year).
Iran’s money volume amounted to 1,630.3 trillion rials by the beginning of last fiscal year (March 2017). The near money volume reached 10,903.6 trillion rials by the same time.
According to the CBI data, Iran’s liquidity has increased by 23 percent year-on-year by the end of 11th Iranian calendar month (Feb. 20) and accounted to 14,896.4 trillion rials.
The liquidity volume has been constantly on the rise in the Iranian economy for years, raising concerns among certain experts, who believe the uncontrolled liquidity will eventually create economic crisis in the country.
Iran’s liquidity increased by 18.8 percent or 2,362.5 trillion rials compared to the beginning of the last fiscal year (March 20, 2017).
The liquidity increased from 134,280 billion rials ($28.09 billion) in 1997 to 13,000 trillion rials ($345.74 billion) in 2016, registering a growth by 96 times (a 12 times growth in USD).
In other words, this volume has gone through an annual growth of 26 percent on average.