BAKU, Azerbaijan, August 15. The foreign assets of the Central Bank of Iran rose 497 percent at the end of the third month of the current Iranian year (June 20, 2024) compared to the end of the same month of the previous year (June 21, 2023), the statistics of Iran's Central Bank said, Trend reports.
According to the statistics, the value of the Central Bank of Iran's external assets amounted to 20.7 quadrillion rials (about $50.9 billion) at the end of the third month of the current Iranian year. The figure stood at 3.47 quadrillion rials (about $8.51 billion) at the end of the same month last year.
The statistics noted that the total value of assets (domestic and foreign) of the Central Bank of Iran amounted to 35.7 quadrillion rials (about $87.8 billion) at the end of the third month. As of the mentioned period, the total value of the Central Bank of Iran's assets increased by 112 percent compared to the end of the same month last year. The value of the Central Bank's assets at the end of the same month last year amounted to about 17 quadrillion rials (about $41.7 billion).
To note, in 2018, as the US imposed sanctions on Iran over Iran's nuclear program and expanded sanctions, Iran was taken out of the SWIFT system. Iran's withdrawal from this system created serious problems for the country's work with global banks. It has caused branches and assets of Iranian banks in many countries to go virtually out of business.
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