CBI: Iran’s Net Foreign Assets Grow 43.7%

Date: 04 July 2022 - 21:28

News ID: ۱۰۴۴۳۸

TEHRAN - Figures by the Central Bank of Iran (CBI) shows assets held by the country in foreign banks rose by 43.7% in the year to April 20.
CBI figures published on the bank’s website showed that Iran’s net foreign assets had reached a total of 8380.1 trillion rials ($26.18 billion), up from 5830.4 trillion rials reported in late April 2021.
The figure included 5593.5 trillion rials in CBI assets and 2786.6 trillion rials in assets held by Iranian banks and credit institutions in other countries.
The CBI data showed, however, that Iran’s foreign assets in April had dropped by 0.7% from the calendar month to March 21.
The figures come amid reports showing that Iran has been selling more crude oil to customers in Asia despite a series of American sanctions that have banned any purchases of Iranian oil since four years ago.
An Iranian administrative government that came to office in August last year has touted its success in getting round the U.S. sanctions and earning more hard currency resources for the country.
Iranian finance ministry said last month that oil exports proceeds are collected no later than three months from shipment deliveries despite banking restrictions imposed by the U.S.
Excerpts of a report by the Organization of Petroleum Exporting Countries (OPEC) published in the Iranian media on Saturday showed that the country had earned more than $25.313 billion from crude oil exports in 2021, up from just $7.914 billion reported in 2020.
CBI’s Sunday figures showed that Iran’s M3 money supply, which includes CBI’s foreign assets, had reached 48,232.9 trillion rials ($150.7 billion) in late April.