News ID: 315324
Published: 0206 GMT August 06, 2021

CBI foreign assets up by 2.4%

CBI foreign assets up by 2.4%

The Central Bank of Iran (CBI) reported a 2.4% rise in its foreign assets for the first Iranian calendar quarter to June 21.

CBI data show that foreign assets reached over 6,600 trillion rials ($26.4 billion), up against 6,450 trillion rials eported in quarter to late March, IRNA reported on Thursday.

CBI’s foreign assets in June increased by 19.9% against the June quarter 2020 and by 46% against the June quarter 2019, according to 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 were released 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 Raeisi has vowed he will continue to use diplomatic efforts to have US sanctions on Iran removed, especially those targeting CBI’s assets in other countries.

Lifting of US sanctions is expected to significantly boost Iran’s oil revenues and improve balances in the CBI.

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