Iran’s money supply up 40% y/y in September to $145bn: CBI
Latest figures by the Central Bank of Iran (CBI) show that money supply in the country rose by over 40% year on year in September.
CBI data published on Tuesday showed that M1 money supply had reached a total of 40,676 trillion rials (over $145.2 billion) in the calendar month to September 22.
The figure was up 40.5% against September 2020 and up 17% against the end of the last calendar year in March, showed tables published by the bank and covered in a report by the official IRNA news agency.
The tables showed that CBI’s net foreign assets had increased by 36.5% year on year to reach 4,956.3 trillion rials ($17.7 billion) in September. The figure showed an increase of 5.4% against March.
Net government debt to the CBI had declined by nearly 80% against last year to stand at nearly 37 trillion rials ($132.1 million) although it was more than 116% higher than figures reported in March.
Debts owed by private and state banks to the CBI amounted to 1,273.5 trillion rials (nearly $4.55 billion), down 1.4% on September 2020 and up 8.7% on March this year.
IRNA’s analysis of the figures said that the surge in Iran’s money supply has been consistent with economic realities in the country, including positive growth rates reported by the CBI for several successive quarters starting in late 2020.
It said a better control on money supply by a new Iranian government that came to office in August could lead to lower rates of inflation and joblessness in the country.
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