‘CBI’s access to its foreign resources improving’

May 13, 2020 - 14:32

TEHRAN – Governor of Central Bank of Iran (CBI) says the bank’s access to its financial resources abroad is improving, IRNA reported on Wednesday.

“Over the past 50 days, more than $2.5 billion has been provided by the central bank and non-oil exporters, about 50 percent of which has been supplied through the NIMA system [Iran's domestic Forex Management Integrated System],” Abdolnasser Hemmati wrote on his social media.

Mentioning the problems caused by the coronavirus outbreak and the preventive measures taken by neighboring countries which resulted in the closure of border terminals, Hemmati noted that the situation will become normalized with the gradual reviving of non-oil and oil exports.

Earlier, Hemmati had stated that CBI’s most important monetary policy for the current Iranian calendar year (started on March 20) is going to be curbing inflation.

According to the official, despite the decrease in oil revenues under the U.S. sanctions and a sharp decline in oil prices, the situation of the country's bank reserves of the foreign currency is appropriate.

"These achievements have been realized through the efforts of the banking system and due to the correct policy of the central bank, and if the banking system is supported, we will see greater achievements in the future," he said.

EF/MA

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