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Iran's Foreign currency reserve stands at dlrs 50 billion

Tehran, May 9, IRNA-Iranian foreign currency reserve reached dlrs 50 billion at the end of last Iranian year, 1384 (ended on March 20, 2006).

Announcing this, head of Monetary and Banking Research Institute of Central Bank of Iran (CBI), Ahmad Mojtahed told reporters on Tuesday that 1384 was a good year for Iranian economy.

"Non-oil exports reached the record level of dlrs 10 billion in 1384 up by 13 percent compared with the figure for the preceding year."

Asked about turning the foreign currency reserve account to a foreign currency reserve fund, he said that if foreign currency reserve be transferred to the fund it would be spent easily for long-term economic projects.

He said that CBI believes that transactions in the foreign currency reserve account is easier and prefers to use the account.

Mojtahed said that inflation stood at 12.1 percent at the end of the last year, 1384.

... Payvand News - 5/10/06 ... --

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