Iran out of gold need for 15 years - Central Bank

Iran doesn't need to import any gold for the next 15 years, the managing director of country's Central Bank, Mahmoud Bahmani said, Fars news agency reported.

Bahmani noted that Iran's gold reserves are sufficient for the next 15 years, as far as the domestic needs go.

He then further spoke of liquidity in the country. Bahmani noted that the liquidity growth rate stood at 30,8 percent past year, and added that it decreased by 1.9 percent in the first Iranian calendar month compared to the last month of the past year.

"We are trying to decrease liquidity in the country, using several measures, along with controlling the value of the national currency and the inflation rate," he said, without revealing the actual measures.

In January, Bahmani said liquidity in Iran has reached 4240 trillion rials (over $346 billion).

The Central Bank previously reported that liquidity grew over five-fold seven years ago.

Bahmani previously said that the liquidity growth rate fell to 19.4 percent in the year which ended on March 19, 2012, compared to 25.2 percent in the preceding one.

According to the International Monetary Fund, Iran's economy decreased by 1.9 percent in 2012. The value of the country's current, the rial, also decreased by 40 percent in 2012.


/Trend/