BAKU, Azerbaijan, November 25. The value of foreign assets of the Central Bank of Iran (CBI), other Iranian banks and financial institutions increased by 18.2 percent at the end of the 4th month of the current Iranian year (July 22, 2023), compared to the previous period, Trend reports.
According to the latest data from Iran’s Central Bank, the figure stood at approximately 28.1 quadrillion rials (about $670 billion) at the end of the 4th month.
In the corresponding period previous Iranian year (July 22, 2022), the value of foreign assets of Iran’s Central Bank and other Iranian banks and financial institutions was 23.8 quadrillion rials (about $567 billion).
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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