Iran reports money supply up 38.7% year-on-year in December

The file photo shows Iranian banknotes.

Figures from the Central Bank of Iran (CBI) show that the country’s money supply grew by 38.7% in the 12 months to the end of December last year to reach the equivalent of 165.18 billion of dollars.

CBI figures released on the bank’s website on Sunday showed that Iran’s M3 money supply had reached 44,269.9 trillion rials, up 13.7% from figures released in late September but down by 0.6% compared to November.

The figures indicate that the M1 money supply, which includes cash in circulation and check deposits in banks, increased by 42.3% in the year to December 21 to reach 8,779.00 trillion rilas ( $32.75 billion) while money supply or M2, which covers savings and term deposits. , rose 41.2% year-on-year in December to 35,490.9 trillion rials ($132.43 billion).

The bank said almost a tenth of the 27.4% growth in money supply in the three quarters to the end of December last year was due to an acquisition that took place in the largest Iranian lender, Bank Sepah.

The figures show that Iran’s monetary base, which covers cash in circulation and deposits held by the CBI, grew 37.6% year-on-year at the end of December to reach 5,608.60 trillion rials (nearly $20.92 billion).

Government debt to the CBI fell 75.1% in the three quarters to Dec. 21 to minus 393.69 trillion rials (minus $1.47 billion), the bank said.

The data showed that debts owed by private and public banks to the CBI increased by 31.2% over the same period to 1,537.4 trillion rials ($5.73 billion).

They showed that total foreign assets held by the CBI and other Iranian banks and institutions rose 32% year-on-year at the end of December to reach 6,981.3 trillion rials ($26.05 billion).

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