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Iran Forex Reserves $100bn Last Year: Minister

Service : Economy
TEHRAN, April 18 (ICANA) – Iran's foreign exchange reserves stood at USD 100 billion in the past Iranian calendar year (ended March 20), says Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini.
Monday, April 18, 2011 11:37:49 AM
Iran Forex Reserves $100bn Last Year: Minister

The Islamic Republic's foreign debt also stood at USD 20 billion in the same period, Hosseini said in a press conference on the sidelines of the annual spring meetings of the World Bank and International Monetary Fund (IMF) in Washington, Mehr news agency reported.

Iran's economy is most suitable for attracting foreign investments, the Iranian minister went on to say.

“Tehran Stock Exchange's (TSE) main index, TEPIX, increased by 86 percent in the past [Iranian] year,” Hosseini added.

TSE's value surpassed an all-time high of more than 125 billion dollars on April 9 to mark a new record for the past 44 years of its activity.

Iran is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) and the second largest gas producer in the world after Russia.

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