Iran's forex reserves top $76 bn: Report
Iran's foreign currency reserves topped 76 billion dollars at the end of the fiscal year in September, the central bank said in a statement.
By Agencies |
TEHRAN: Iran's foreign currency reserves topped 76 billion dollars at the end of the fiscal year in September, the central bank said in a statement published on Saturday by Sarmayeh newspaper.
The country's forex reserves exceeded 76.1 billion dollars (52 billion euros) at the end of the 12 months ending in late September 2007, the newspaper quoted the central bank as saying.
The figure represents a jump of 29.4 percent over the previous year. Iran, the world's fourth largest oil exporter and the second ranking in OPEC, has benefited from record crude prices which have helped it to weather domestic economic problems.
Amid US threats of further sanctions over its controversial nuclear programme, Iran has announced it was switching its foreign reserves from US dollars to euros and other currencies.
Many international banks have stopped dealing with Iran in line with sanctions imposed by the United States to pressure Tehran into halting its programme of uranium enrichment.
Washington and its Western allies are also trying to expand UN sanctions against Iran, which denies Western allegations that it is trying to develop nuclear weapons.
Central bank head Tahmasb Mazaheri played down the importance of US sanctions and said Iran will not face serious problems because of renewed pressures.
"Iran will not be harmed by these (US) sanctions, even though some trouble has been caused by the US government's animosity towards Iran," Mazaheri was quoted as saying by the semi-official Mehr news agency.
"The private sector has taken very good initiatives to counter these hostile moves," he added, without elaborating.
The country's forex reserves exceeded 76.1 billion dollars (52 billion euros) at the end of the 12 months ending in late September 2007, the newspaper quoted the central bank as saying.
The figure represents a jump of 29.4 percent over the previous year. Iran, the world's fourth largest oil exporter and the second ranking in OPEC, has benefited from record crude prices which have helped it to weather domestic economic problems.
Amid US threats of further sanctions over its controversial nuclear programme, Iran has announced it was switching its foreign reserves from US dollars to euros and other currencies.
Many international banks have stopped dealing with Iran in line with sanctions imposed by the United States to pressure Tehran into halting its programme of uranium enrichment.
Washington and its Western allies are also trying to expand UN sanctions against Iran, which denies Western allegations that it is trying to develop nuclear weapons.
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Central bank head Tahmasb Mazaheri played down the importance of US sanctions and said Iran will not face serious problems because of renewed pressures.
"Iran will not be harmed by these (US) sanctions, even though some trouble has been caused by the US government's animosity towards Iran," Mazaheri was quoted as saying by the semi-official Mehr news agency.
"The private sector has taken very good initiatives to counter these hostile moves," he added, without elaborating.
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