Iranian banks held foreign assets worth 24,633.4 trillion rials ($46.8 billion) by the end of the eleventh calendar month to February 19, up by 18.7% from the same time last year.
Central Bank of Iran data show that the pace of growth in foreign assets declined noticeably. Annualized growth in overseas assets was 37.2% in the year before.
CBI foreign assets were in the region of 7,554.3 trillion rials ($14.7b) in the period, up 9.1% y/y and 3.2% higher in the first eleven months of the last fiscal year that ended in March.
In the past rising patterns in CBI foreign assets had pushed up the monetary base. But as the pace slowed, its role in the exploding monetary base was contained. The monetary base shot up again in the eleventh calendar month to February 19.
It was near 8,086 trillion rials ($15.43 billion) -- up 33.9% in eleven months since the beginning of fiscal year, but rose 39.2% in 12 months -- down 1.2 percentage points from the annualized growth of 35.8% last year.
Data show that the CBI’s foreign assets alone accounted for 11.2 percentage points of annualized monetary base growth in the period. This is while its contribution to five-month growth of the monetary base was 0.4 percentage points.
Commercial Banks
Commercial banks held 2,419.8 trillion rials ($4.6b) in foreign assets – 18.9% higher y/y and up 0.3% in eleven months.
Specialized banks held 3,829 trillion rials ($7.37b) overseas, indicating 15.1% rise y/y and down 2.3% in eleven months.
Likewise, foreign assets held by private lenders were near 10,204.8 trillion rials ($33.9b) – 21.2% higher annually and up 2.7% over five months.
The CBI report also took stock of other assets, including banknotes and debt of the government and other lenders.
Total assets owned by the CBI amounted to 10,829.1 trillion rials ($39.8b) in the said period. Banknotes and coins were worth 1,074.8 trillion rials ($3.95b), which was 42.9% higher from the earlier year.
Government and state companies owed 2,637 trillion rials ($4.8b) to the CBI during the period, 9.1% higher from the corresponding period last year.
Debt of banks to the CBI were estimated at 3,440.7 trillion rials ($7.1b) in the 12 months – up 84.9%. Debt of commercial lenders to the regulator jumped a massive 135.1% in 11 months since the beginning of the fiscal year.
Banks and credit institutions had 6,902 trillion rials ($14.24b) in deposits with the CBI in the same period, which was 39.3% higher y/y.
Reserve requirements accounted for 6,837 trillion rials of the total deposits of banks with the CBI, 40.3% higher y/y.
