BAKU, Azerbaijan, December 14. The foreign assets of the Central Bank of Iran (CBI) dropped by 7.4 percent at the end of the 6th month of the current Iranian year (September 22, 2023), compared to the same period last year, Trend reports.
According to CBI data, the value of Iran's Central Bank's foreign assets at the end of the sixth month was 6.9 quadrillion rials (about $164 billion).
Meanwhile, at the end of the sixth month of last year (September 22, 2022), this sum stood at 7.46 quadrillion rials (about $178 billion).
At the same time, the value of total (domestic and foreign) assets of the CBI amounted to roughly 17 quadrillion rials (about $405 billion) by September 22, 2023, representing a 33-percent growth compared to 12.8 quadrillion rials (about $304 billion) by September 22, 2022.
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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