Iran money supply up 39.7% in year to February: CBI
Figures by the Central Bank of Iran (CBI) show that money supply in the country grew by nearly 40% in the year to late February.
Figures published on CBI’s website on Monday showed that M3 money supply had reached a total of 46,240.3 trillion rials (over $167.5 billion) on February 19, up 39.7% compared to figures recorded on the same day in 2021.
A breakdown of the figure showed that M1 money supply, which includes cash in circulation and checkable deposits in banks, had reached 9,162.4 trillion rials over the year to late February, up 40.5% against the previous year.
The near money or M2 money supply, which covers M1 as well as savings and time deposits, rose 39.5% year on year to 37,077.9 trillion rials.
The three money supply figures had increased by an average of nearly 33% compared to the end of the Iranian fiscal year to late March 2021.
The monetary base, which is the cash in circulation and deposits held by the CBI, rose 33.2% year on year in Iran to reach 5,807.5 trillion rials (over $21 billion), showed CBI figures.
The bank reiterated its previous statements about the impact of several banking mergers and acquisitions that took place last year on its money supply calculations, saying they had accounted for a 2.6% rise in Iran’s annual M3 figure in February.
The CBI said that its foreign assets had reached 5,056.8 trillion rials (more than $18.3 billion), up 25.2% against February 2021.
Government debt to the CBI declined 555.7% in the year to late February to stand at minus 791.6 trillion rials, said the bank.
Debts owed to the CBI by private and state-run banks increased 56% year on year in late February to reach 1859.7 trillion rials, said the top lender.
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