Iran’s money printing reached a record
Iran’s money printing reached a record by Guaripete #Iran #moneyprinting #inflationrate #moneysupply #rialexchangerate #centralbank #governmentborrowing #economiccrisis #foreigninvestment #internationalsanctions As the Iranian government declared economic success, a central bank report showed the money supply had increased 45% this year, pointing to higher inflation. President Ebrahim Raisi gave a speech claiming to have controlled inflation and reduced money printing, promising that the 50% inflation rate would drop to 30% by March 2024. However, a report from the Central Bank of Iran (CBI) cited by Tehran media indicated that in April 2023, money supply showed a 45% year-on-year growth. Money in circulation reached a staggering 88.7 trillion rials, or about $177.4 billion at an exchange rate of 500,000 rials to the dollar. This is the highest level of currency in circulation in Iran’s history, fueled by government borrowing from the CBI, which inevitably led to money printing without any foreign currency or gold…