CBI drafts plans for shielding economy against sanctions

TEHRAN - Central Bank of Iran (CBI) Governor Abdolnaser Hemmati announced on Friday some of CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy, IRNA reported.

‘Forex reserves enough to stabilize domestic market amid U.S. pressures’

TEHRAN - Central Bank of Iran (CBI) Governor Abdolnaser Hemmati said the country’s foreign currency reserves are enough to stabilize the country’s forex market after U.S. ended the waivers for Iranian oil buyers.

Natural disasters insurance fund to be established: CBI governor

TEHRAN- Central Bank of Iran (CBI) Governor Abdolnaser Hemmati announced that a natural disaster insurance fund will be set up in the country, IRIB reported.

CBI rejects rumors of requesting loan from IMF

TEHRAN – Central Bank of Iran (CBI) has denied the recent rumors about the bank applying for a loan from the International Monetary Fund (IMF).

'U.S. move against IRGC indicates its failure in anti-Iran economic measures'

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati underlined that the U.S. designation of the Islamic Revolution Guards Corps (IRGC) as a ‘terrorist organization’ shows its failure in anti-Iran economic pressures and policies.

Iran’s annual oil revenues exceed $65.8b: CBI

TEHRAN – According to the Central Bank of Iran (CBI)’s latest data, Iran’s revenues from crude oil and oil products exports in the Iranian calendar year of 1396 (March 2017 - March 2018) stood at $65.818 billion.

Iran’s mechanism for INSTEX to be set up soon: CBI governor

TEHRAN- The Iranian mechanism which is in consistence with INSTEX (the special purpose vehicle to facilitate trade between the EU and Iran to get around U.S. sanctions) will be set up in Tehran soon, Central Bank of Iran (CBI) Governor Abdolnaser Hemmati said on Friday night.

‘Iraq willing to establish joint bank with Iran’

TEHRAN – Iraq has expressed readiness to establish a joint bank with Iran, Tasnim news agency reported on Monday quoting the secretary general of Iran-Iraq Joint Chamber of Commerce.

By Haniyeh Sadat Jafariyeh

Contentious case of FATF membership

The Paris-based Financial Action Task Force (FATF) on Friday extended the suspension of countermeasures against Iran for another four months, until June, recognizing the country's efforts in meeting its Action Plan.

Liquidity almost at $410b in a month

TEHRAN- Iran’s liquidity stood at 17.25 quadrillion rials (about $410.7 billion) during the seventh month of the present Iranian calendar year, Mehr (October 22- November 21, 2018), according to a report released by the Central Bank of Iran (CBI).

Forex market under CBI’s full control

TEHRAN- "The Central Bank of Iran (CBI) has a full control over domestic foreign exchange market," the central bank Governor Abdolnaser Hemmati announced in a televised interview on Tuesday.

By Haniyeh Sadat Jafariyeh

Getting around sanctions with crypto-rial

In April 2018, the Central Bank of Iran banned domestic banks and people from dealing in foreign cryptocurrency because of money laundering and financing risks.

‘Banking system reformations on CBI agenda’

TEHRAN- “The plan on amending domestic banking system is being investigated comprehensively and will become operational after getting prepared,” the governor of the Central Bank of Iran (CBI) announced in social media.

By Haniyeh Sadat Jafariyeh

Currency reconversion not a turning point in economic reformation

One of Iran’s main economic policies, under the framework of the sixth five-year development plan, is modification of banking system and reformation of monetary policies, moving forward toward which the Rouhani administration put forward the plan to shift the national currency from Rial to Toman earlier in December 2016 by eliminating specific number of zeroes.

Iran, Syria explore facilitation of bilateral banking transactions

TEHRAN- In a meeting between Central Bank of Iran (CBI) Governor Abdolnaser Hemmati and Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil in Tehran on Monday, the two sides investigated the ways to facilitate banking transactions between Iran and Syria, CBI website published.

‘Banks’ monthly overdrawn from CBI reduced’

TEHRAN- The governor of the Central Bank of Iran (CBI) announced that Iranian banks’ overdrawn from the CBI financial resources has been decreased in the ninth month of the present Iranian calendar year Azar (November 22- December 21, 2018) in comparison with the preceding month, IRNA reported on Tuesday.

External debt down 10.7%

TEHRAN- According to the newest data released by the Central Bank of Iran (CBI), Iran’s debts to foreign lenders in the end of the seventh Iranian month of Mehr (October 22) stood at $10.093 billion, showing 10.7 percent decrease in comparison with the announced figure in the first Iranian calendar month of Farvardin (March 21- April 20, 2018), IRIB reported on Monday.

Inflation rate at 18%

TEHRAN- The Statistical Center of Iran announced that the inflation rate in the twelve-month period ended on December 21, which marks the end of the ninth Iranian calendar month of Azar, stood at 18 percent, Tasnim news agency reported on Sunday.

Bonds worth $950m sold in 7 months

TEHRAN- Iranian government has sold bonds worth 39.842 trillion rials (about $948.6 million) during the first seven months of the current Iranian calendar year (March 21-October 22), IRIB reported on Tuesday citing the report released by the Central Bank of Iran (CBI).

Liquidity almost at $403b in a month

TEHRAN- Iran’s liquidity stood at 16.93 quadrillion rials (about $403 billion) during the seventh month of the present Iranian calendar year, Mehr (September 23- October 22, 2018), according to a report released by the Central Bank of Iran (CBI).

Tax revenues rise 14% in 7 months on year

TEHRAN- Iran’s tax incomes during the first seven months of the current Iranian calendar year (March 21-October 21) has risen 14.2 percent compared to the same period of time in the previous year, ISNA reported on Monday citing the data released by the Central Bank of Iran (CBI).

By Haniyeh Sadat Jafariyeh

1398 budget bill, (non)-oil revenues?

The budget bill for the next Iranian calendar year 1398 (starting on March 21, 2019) was presented to the parliament on December 6 while Iran’s economy, previously expected to boom, is experiencing the toughest conditions under the draconian U.S. sanctions. The upcoming year is supposedly an economic predicament for Iranians to endure and for the government to program and handle.

‘Iran ditches dollar in transactions with several countries’

TEHRAN- Iran has made mutual monetary agreements with some countries on the way to abolish U.S. dollar in its financial transactions and the issue will be incrementally generalized to other countries in future,” the governor of the Central Bank of Iran (CBI) announced in a meeting with Iranian economists on Monday, IRNA reported.

NIMA supplies €6.8b for imports of goods, services

TEHRAN- Since becoming online in early July, Iran’s domestic Forex Management Integrated System (locally known as NIMA) has earned €6.8 billion of foreign currency to be consumed for imports of goods and services into the country, IRIB reported on Saturday.

China eager for expansion of long-term economic ties with Iran: envoy

TEHRAN – The Chinese Ambassador to Tehran Pang Sen expressed his country’s willingness for expansion of long-term economic relations with Iran, IRIB reported.

Inflation rate at 18.4%: CBI

TEHRAN- The Central Bank of Iran (CBI) announced that the inflation rate in the twelve-month period ended on November 21, which marks the end of the Iranian calendar month of Aban, stood at 18.4 percent, IRIB reported on Monday.

External debt falls 9%

TEHRAN- According to the newest data released by the Central Bank of Iran (CBI), Iran’s debts to foreign lenders in the end of the sixth Iranian month of Shahrivar (September 22) stood at $10.317 billion, showing nine percent decrease in comparison with the announced figure in the first Iranian calendar month of Farvardin (March 21- April 20, 2018), IRIB reported on Sunday.

CBI issues instructions on exports revenues return

TEHRAN- The Central Bank of Iran (CBI) issued the instructions on return details of the hard currency earned by exporters back to the domestic financial system, IRNA reported on Monday.

SWIFT’s Iran ban not to harm foreign trade: CBI

TEHRAN- The blacklisting of Iran from the Belgium-based international financial messaging system (SWIFT) will cause the country’s foreign financial transactions and trade no harm, the public relations department of the Central bank of Iran (CBI) announced.

Iran-Europe monetary mechanism established: CBI governor

TEHRAN – The governor of the Central Bank of Iran (CBI) has said a bilateral monetary agreement has been struck between Iran and Europe, through which exporters can receive their revenues from exports to other countries.