Figures from the Central Bank of Iran (CBI) show that the money supply in the country grew by almost 40% in the year to the end of February.
Figures published on the CBI website on Monday showed that the M3 money supply reached a total of 46,240.3 trillion rials (over $167.5 billion) on February 19, up 39.7% compared to the figures recorded on the same day in 2021.
A breakdown of the figure showed M1 money supply, which includes cash in circulation and check deposits in banks, reached 9,162.4 trillion rials in the year to end February, up 40.5 % compared to the previous year.
Quasi-money or money supply M2, which covers M1 as well as savings and term deposits, rose 39.5% year-on-year to 37,077.9 trillion rials.
The three-digit money supply had risen on average by almost 33% compared to the end of Iran’s fiscal year at the end of March 2021.
The monetary base, i.e. cash in circulation and deposits held by the CBI, increased by 33.2% year-on-year in Iran to reach 5,807.5 trillion rials (more than 21 billion dollars), according to CBI figures.
The bank reiterated its previous statements regarding the impact of several bank mergers and acquisitions that took place over the past year on its money supply calculations, saying they accounted for a 2.6% increase in the annual M3 figure. Iranian in February.
The CBI said its foreign holdings reached 5,056.8 trillion rials (over $18.3 billion), up 25.2% from February 2021.
Public debt to the CBI fell 555.7% in the year to the end of February to minus 791.6 trillion rials, the bank said.
Debts owed to the CBI by private and public banks rose 56% year-on-year at the end of February to 1,859.7 trillion rials, the major lender said.