BAKU, Azerbaijan, April 3. The value of foreign assets of the Central Bank of Iran (CBI), other Iranian banks and financial institutions amounted to approximately 8.6 quadrillion rials (about $205 billion) at the end of the 10th month of the last Iranian year (January 21, 2023), Trend reports via the statistics of the Central Bank of Iran (CBI).
This is an increase of 20.1 percent compared to the end of same month in the preceding Iranian year. So, the figure was 7.16 quadrillion rials (about $171 billion) at the end of the same month in the preceding year.
Meanwhile, the value of foreign assets of the Central Bank of Iran amounted to approximately 5.85 quadrillion rials (about $132 billion) at the end of 10th month, which is an increase of 9.8 percent compared to the end of same month in the preceding Iranian year.
The figure stood at 5.04 quadrillion rials (about $120 billion) at the end of the same month in the preceding year.
Also, the value of foreign assets of other banks and financial institutions in Iran for the reporting period amounted to approximately 3.07 quadrillion rials (about $73 billion), which is an increase of 44.3 percent compared to the same period in the preceding year. This figure was 2.12 quadrillion rials (about $50.6 billion) at the end of the same month in the preceding year.
Iran was removed from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system in 2018 when the US imposed new sanctions and expanded sanctions against Iran in connection with Iran's nuclear program.
The removal of Iran from this system created serious problems for the country's operations with world banks. This resulted in the fact that the branches and properties of Iranian banks in many countries remained almost unused.
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