Iran’s Foreign Assets Hit $129bln

TEHRAN (FNA)- Foreign assets held by Iran’s banking system surged to $129bln on the back of high oil prices according to the Central Bank of Iran.

According to the latest report by the Central Bank of Iran (CBI), the figure marked a 29 percent growth compared to the corresponding figure, 972,850 billion rials ($100 billion), for last year.

An earlier CBI report said that Iran’s income from oil and gas exports topped $81 billion in the year to March thanks to soaring prices.

In 2007-8, Iran’s oil revenues totaled $81.7 billion, a 31 percent jump compared with revenues of $62 billion in the previous year. In the same period, Iran — OPEC’s second-biggest producer — pumped on average 4.05 million barrels of crude per day, press tv reported.

Inflation in Iran hit 27.6 percent in the calendar month of Mordad that ended August 21, said the CBI early September.