Total capital of Central Bank of Iran grows
BAKU, Azerbaijan, Feb. 23
By Elnur Baghishov - Trend:
The Iranian Cabinet of Ministers has decided to increase the total capital of the Central Bank of Iran through reserves, Trend reports referring to the website of the country’s Cabinet of Ministers.
The Iranian Cabinet of Ministers has made this decision based on the Central Bank’s proposal and the country’s foreign currency and banking law.
According to the decision, the Iranian Central Bank’s capital has increased to 58.3 trillion rials (about $1.39 billion).
Prior to this, the bank’s capital was 55.3 trillion rials (about $1.31 billion).
Iran experienced devaluation in 2018. Besides, the US imposed new sanctions on Iran in November of the same year. All of this had a serious negative impact on Iran’s economy. Iran intends to develop its economy by taking various measures.