Page 30 - IRANRptDec20

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
Iran’s rial stages recovery after central bank intervention
In some better news for the economy, the rial bounced back from record lows to a near one-month high against the dollar on October 20 after the central bank said it had injected around $375mn into the market to support the troubled currency.
The dollar was selling for around IRR277,000 on the unofficial market, down from IRR304,500 the previous day, according to foreign exchange site Bonbast.com. Business daily ​Donya-e-Eqtesad's​ website gave the dollar rate as IRR288,000, down 24,000 rial day on day.
Nevertheless, the currency has lost around 52% of its value in 2020.
Ebrahim Mohammadvali, head of the Tehran gold and jewellery traders union, was quoted by news website Fararu as attributing the decline of the dollar to a "heavy offer of hard currencies on the market by the central bank".
"This is also behind a fall in the prices of gold and coins," Mohammadvali added.
The central bank currency market intervention was its fifth such intervention in a week.
Tuesday's rise took the rial back to its trading level on September 22, before it fell to an all-time low of around 322,000 per dollar on October 15, Reuters noted.
The Central Bank of Iran (CBI) has started the transition to the redenomination of the Iranian currency with the new Iranian rial (IRR) 100,000/Iranian toman (IRT) 10 (Toman) bank note (worth $0.37 at the free market rate and $2.37 at the official rate), IRIB reported on November 12.
The note is part of the wider official transition away from the heavily depreciated rial to the locally recognised “toman” (liked by Iranians and used on an informal basis as it cuts down on zeroes, with one toman representing 10 times the value of one rial). The move, which officially lops four zeros from the Iranian currency, will be completed by 2022.
CBI chief Abdolnasser Hemmati said in September that printing bank notes with four paled zeroes had already started, with a change of design applied
Iran - FX
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Feb-20
May-20
Sep-20
Currency (units per EUR) (eop)
48,754
48,011
47,165
47,754
45,926
47,055
46,543
45,835
49,274
Currency (units per USD) (eop)
42,000
41,995
42,000
42,000
42,000
42,000
42,000
42,000
42,000
Iran begins currency transition with new toman bank note
30​ IRAN Country Report December 2020 www.intellinews.com