Reserve Requirement of Banks Surges 130% in 3 Years, CBI Says

Date released by the Central Bank of Iran show the reserve requirement of banks increased more than twofold in three years. 
The legal reserves rose from 154 trillion rials ($570 million) in fiscal 2017-18 to 354 trillion rials ($1.3 billion) by the end of the last fiscal year (March 21) up 129%. 
Funds held by banks as reserve with the CBI stood at 194 trillion rials ($718m) in 2018-19 and 260 trillion rials ($962m) in 2019-20, respectively, showing annual growth of 26% and 33.7%.