TEHRAN - The Central Bank of Iran (CBI) has reported a 2.4% surge in its foreign assets for the first calendar quarter to June 21.
A Thursday report by Iran’s official IRNA news agency cited CBI data showing that foreign assets had reached over 6,600 trillion rials ($26.4 billion), up against 6,450 trillion rials reported in quarter to late March.
CBI’s foreign assets in June had increased by 19.9% against the June quarter 2020 and by 46% against the June quarter 2019, showed the figures.
CBI’s foreign debts declined by 1.4% year on year in first quarter of the current fiscal year to 1,810 trillion ($7.24 billion).
Government sector debt to the bank rose by 35.1% against the March quarter to reach 2,010 trillion rials (over $8 billion) while banks debts to the top lender declined slightly by 2.5% to 1,130 trillion rials ($4.52 billion).
The figures come as the CBI expects an overhaul in its top management team amid a change of administration in Iran that started to take effect this week.
President Ebrahim Raisi has vowed he will continue to use diplomatic efforts to have U.S. sanctions on Iran removed, especially those targeting CBI’s assets in other countries.
Lifting of U.S. sanctions is expected to significantly boost Iran’s oil revenues and improve balances in the CBI.