BAKU, Azerbaijan, October 31. The foreign assets of Iran's Central Bank increased by 614 percent by the end of the sixth month of the current Iranian year (September 20, 2024) compared to the same month of the previous year (September 21, 2023).
The data obtained by Trend from the country's Central Bank showed that the value of its foreign assets amounted to 21.7 quadrillion rials (about $48.8 billion) by the end of the sixth month of the current Iranian year. This figure stood at 3.04 quadrillion rials (about $6.84 billion) by the end of the same month of last year.
Moreover, statistics indicate that at the end of the sixth month, the value of the Iranian Central Bank's total (domestic and foreign) assets amounted to 38.8 quadrillion rials (roughly $87.4 billion). The total assets of the Central Bank of Iran increased by 128 percent by the end of the sixth month, compared to the same month last year. The value of the Central Bank's assets stood at about 17 quadrillion rials (about $38.2 billion) at the end of the same month last year.
To note, Iran was excluded from the SWIFT system in 2018 when the US imposed sanctions on Iran over the country's nuclear program. Iran's withdrawal from this system posed serious problems for the country's dealings with global banks. It left Iranian banks' branches and real estate in many countries practically untapped.
