Report: Iran’s money supply up 8.8% in Q1 calendar year

CBI figures cited in a Tuesday report by the semi-official Fars news agency showed that the Iranian economy’s total money supply, technically known as M3 money supply, was 110,588 trillion rials (more than $108.41 billion), at the end of the calendar month to June 21.

The annual increase in money supply in Iran was 32.4% compared to the year to late June 2024, the figures showed.

The increase was 5.6% higher than the year-on-year rise in the M3 money supply reported by the CBI in late June last year, the lender said.

Its figures showed that Iran’s monetary base, which is the cash in circulation in the country and deposits held by the CBI, had risen by 6.3% in June compared to late March to reach a total of 14,444.4 trillion rials (more than $14.16 billion).

The CBI has been reporting increases in its net foreign assets as a result of a consistent rise in Iran’s oil exports as well as the increase in the country’s official exchange rates. The bank said in late March that the monetary base in the country had risen by 24.5% year on year.

Its Tuesday figures showed that government debt to the CBI had increased by 18.5% in June compared to late March, contributing to the rise in Iran’s monetary base over the period./isna