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Saturday, April 30, 2011

Iran forex reserve over $100bn http://www.islamidavet.com/english/2011/04/30/iran-forex-reserve-over-100bn/

An official with the Central Bank of Iran (CBI) has stated that the country has at least 100 billion dollars in foreign exchange reserves. Speaking on condition of anonymity, he told the Fars News Agency that the foreign exchange reserve is different from the foreign exchange reserve account, noting that the figures announced by President Mahmoud Ahmadinejad and some CBI officials refer to the foreign exchange reserve and not the foreign exchange reserve account. 

The official explained that the content of the foreign exchange reserve account is in constant fluctuation due to various inputs and outputs and certain times it might reach the zero level, without contradicting the statement that the country has at least 100 billion dollars in foreign exchange reserves. He also stated that Iran’s abundant reserves of gold and various foreign currencies, which serve as a back-up to foreign exchange reserves, have put the Islamic Republic in an unparalleled position in the world.

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