Broad Money Supply Rises 7.3 Percent in Q1

The Central Bank of Iran in a press release said money supply shot up to 26,541.6 trillion rials ($139.5 billion) by the end of the first quarter of the current fiscal year (March 20- June 21) -- up 7.3% compared to the same quarter last year. 
It said broad money grew 2 percentage points compared with 5.3% growth recorded for the first quarter of fiscal 2019-20.
The bank said increase in the money supply was not unusual and due also to the financial aid given needy households and businesses hit hard by Coivid-19. Increase in government borrowing from banks was another key factor.
CBI was instructed by the government in April to help low-income households and businesses impacted by deadly virus.