Page 30 - IRANRptAug21

Iran’s total external debt at $9.03bn in March 2020
The IMF, meanwhile, has also calculated that Iran's total budget deficit for the current fiscal year will be around $58bn.
Iran's total external debt decreased 3.3% to $9.03bn at the end of the Persian financial year ending March 20, according to the Central Bank of Iran (CBI).
Despite suffering from bad debt internally, Iran is in a remarkably strong position in terms of its international debt, most notably down to international lenders not being allowed to interact formally with the Islamic Republic.
7.0 FX
Iran - FX
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Currency (units per EUR) (eop)
47,754
45,926
47,055
46,543
47,215
49,274
51,609
49,171
50,004
Currency (units per USD) (eop)
42,000
42,000
42,000
42,000
42,000
42,000
42,000
42,000
42,000
Strengthening rial driven by rising hopes for nuclear deal revival says Iran’s central bank
The Iranian rial (IRR) on May 5 reached its strongest rate against the dollar on the open market in three months, causing the central bank to deny it was boosting the currency and to say it was gaining on strengthening sentiment for a positive outcome from the ongoing Vienna talks aimed at reviving the 2015 nuclear deal.
By the end of trading, the IRR reached 209,000 versus the USD. The big move, however, came on May 2 when the dollar lost more than 4.5% as the IRR gained by 10,100 rials to reach 219,700.
The greenback further declined to 218,000 rials on May 3, prior to the May 4 religious holiday, when there was no trading, and the May 5 gain. Abdolnasser Hemmati, governor of the Central Bank of Iran (CBI), was quoted by the Financial Tribune as saying the market was responding to “positive expectations” on the potential for the removal of US banking sanctions on Iran and the possible unfreezing by Washington of Iranian FX assets held in foreign banks should the Vienna talks reach a successful conclusion.
30 IRAN Country Report August 2021 www.intellinews.com