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CBI: Foreign currency assets up in 1st month
According to Mohammadreza Farzin, the increase indicated a positive balance of $200 million in purchasing foreign assets compared to selling them.
Farzin stated that the cash growth rate, which had decreased to 24% by the end of last year, has reached 23% in the first month of the new year, ISNA reported.
He added that the money growth rate, previously at 33% last year, has now dropped to 16% by the 16th day of this month.
As per the Central Bank’s announcement, Farzin mentioned that money growth is an important measure for inflation expectations, and a decrease in its growth rate indicates a reduction in inflation expectations.