Deputy Governor of the Central Bank of Iran (CBI) for Economic Affairs Mohammad Shirijian announced that the situation of Iran's foreign exchange (forex) reserves is increasing due to the growth of oil and non-oil exports.






Shirijian addressed a meeting of the deputies and heads of central banks and ministers of the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region on Tuesday.

Referring to the balanced growth of various sectors of Iran's economy and the increasing resilience of the Iranian economy against the recent global shocks, Shirijian said that the situation of Iran's foreign exchange reserves is increasing due to the growth of oil and non-oil exports.

He underlined that inflationary pressures in Iran have been controlled to some extent by stabilizing the value of the rial. However, the central bank's regulatory policies will remain to ensure that inflation falls to targeted levels, especially due to increasing demands and booming domestic economic activities.

International Monetary Fund (IMF) in its latest report estimated Iran�s forex reserves at $21.1 billion in 2023, which shows $1.6 billion growth compared to the same period last year.

IMF estimated that Iran's forex reserves to reach $24.3 billion in 2024.

The published figure shows that Iran ranks 12th in its available forex reserves in the region.

By IRNA