Page 26 - IRANRptSep19

lenders not being allowed to interact formally with the Islamic Republic.
The central bank report shows that Iran's external debt reached $9.339bn at the end of the Iranian fiscal year ending March 2019. In comparison, Turkey’s external debt reached $286.2bn at the end of 2018, according to its central bank, Hurriyet r eported.
Iran’s short-term external debt totalled $7.18bn at the end of March this year and $2.15bn is mid-term and long-term debts.
The central bank report then switches to euros saying, “Iran’s potential commitment was placed at €8.23bn of which €6.33bn belongs to mid-term and long-term debts and €1.86bn belongs to short term debts”.
“At end of March 2019, Iran’s external debt was placed at $9.3bn, recording a decrease of $0.4 billion over its level at end-February 2019." the CBI said. The CBI added, "At the end of March 2018, Iran’s external debt was placed at $11.3bn, recording a decrease of $2bn over its level during Iran’s fiscal year.”
7.0 FX
Sterling, euro decline against Iranian rial on official market
The British pound sterling and the euro declined against the Iranian rial (IRR) by the close of trade at the end of the Persian calendar week on August 21, Central Bank of Iran (CBI) data shows.
The pound dropped to IRR50,921 while the euro declined to IRR46,560 on the official CBI exchange rate board, showing some new semblance of normality in exchange rate movements for the Iranian currency hammered since the US introduced its hard-hitting sanctions regime aimed at Tehran last year.
The US dollar, now essentially on official lockdown in Iran, remained fixed at IRR42,000. Iran continues to remove the greenback from daily transactions, partly to get around the US sanctions.
Meanwhile, on the unofficial tertiary market (closed for the Iranian weekend which takes in Thursday and Friday), the US dollar, euro and pound sterling on August 22 all remained on a downward trajectory against the rial.
One US dollar bought you IRR117,200, whereas one euro purchased IRR129,950 and one pound IRR142,300.
In the spot gold market, the old Azadi gold sovereign traded for IRR41mn, and the newer Emami traded for a slightly higher IRR41.6mn.
Iran - FX
Jun-17
Sep-17
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Currency (units per EUR) (eop)
37,057
39,666
43,273
46,522
49,268
48,754
48,011
47,165
47,754
Currency (units per USD) (eop)
32,489
33,805
36,064
37,743
42,590
42,000
41,995
42,000
42,000
26 IRAN Country Report September 2019 www.intellinews.com