Baku, Azerbaijan, July 14
Trend:
The volume of banknotes and coins in possession by the Iranian population registered an increase by 12.6 percent by March 20 (end of the last fiscal year), according to the latest data of Central Bank of Iran (CBI).
The figure hit 442.7 trillion rials (Each USD made 38,000 rials at the time) by March 20, compared to 393.3 trillion rials by the end of the preceding Iranian year (March 2017), the CBI said.
The figure amounted to 371.9 trillion rials by March 2016 and 351.7 trillion rials by March 2015, according to the report.
The money volume increased by 19.4 percent year-on-year and amounted to 1,946.7 trillion rials by March 20, while the near money stood at 13,353.1 trillion rials (22.5 percent more year-on-year).
Iran’s money volume amounted to 1,630.3 trillion rials by the beginning of last fiscal year (March 2017) and 1,367 trillion year by March 2016. The near money volume reached 10,903.6 trillion rials by the last year’s beginning compared to 8.805.8 trillion rials in the preceding year (March 2016).
According to the CBI data, Iran’s liquidity has increased by 22.1 percent year-on-year by the beginning of the current fiscal year (March 20) and accounted to 15,299.8 trillion rials.
The liquidity volume has been constantly on the rise in the Iranian economy for years, raising concerns among certain experts, who believe the uncontrolled liquidity will eventually create economic crisis in the country.
The liquidity increased from 134,280 billion rials ($28.09 billion) in 1997 to 13,000 trillion rials ($345.74 billion) in 2016, registering a growth by 96 times (a 12 times growth in USD).
In other words, this volume has gone through an annual growth of 26 percent on average.
