Iran reports 38.7% surge in money supply y/y in December
Central Bank of Iran (CBI) figures show that money supply in the country rose by 38.7% in the 12 months to late December last year to reach the equivalent of $165.18 billion.
CBI figures published on Sunday on the bank’s website showed that Iran’s M3 money supply had reached 44,269.9 trillion rials, up 13.7% against figures reported in late September but down 0.6% against November.
The figures indicated that M1 money supply, which includes cash in circulation and checkable deposits in banks, rose 42.3% in the year to December 21 to 8,779.00 trillion rilas ($32.75 billion) while near money or M2 money supply, which covers savings and time deposits, increased 41.2% year on year in December to 35,490.9 trillion rials ($132.43 billion).
The bank said that nearly a tenth of the 27.4% growth in money supply in the three quarters to late December last year had been due to an acquisition that took place in Iran’s largest lender Bank Sepah.
The figures showed that Iran’s monetary base, which covers the cash in circulation and deposits held by the CBI, rose 37.6% year on year in late December to 5,608.60 trillion rials (nearly $20.92 billion).
Government debt to the CBI declined 75.1% in the three quarters to December 21 to minus 393.69 trillion rials (minus $1.47 billion), said the bank.
The data showed that debts owed by private and state-run banks to the CBI rose by 31.2% over the same period to 1,537.4 trillion rials ($5.73 billion).
They showed that total foreign assets held by the CBI and other Iranian banks and institutions rose 32% year on year in late December to reach 6,981.3 trillion rials ($26.05 billion).
Sri Lankan sailors rescued in stormy waters in south Iran
The epic of Iran’s economic invincibility
Iran's need for production surge and its requirements
Israeli airstrike kills at least 7 people in Rafah
VIDEO | Iranians hold nationwide demos in support of IRGC
Syria condemns US veto of Palestine UN membership resolution
Iraqi resistance forces hit Israeli Ovda air base
Hackers break into Israeli military’s computers, access trove of documents
Tulkarm Brigade commander killed by Israeli forces in raid on refugee camp
Zionist media desperately trying to turn Israeli defeat into victory: Iran
VIDEO | Press TV's news headlines
This makes it easy to access the Press TV website
