20 billion USD in currency at Iranian homes

Iran writes of plans to connect Iran’s Shetab banking network to Turkish and Russian banking systems. Mostafa Beheshtiruy, Member of the Board of Directors at Pasargad Bank has said that the project is already underway in the Central Bank to use Iranian debit cards in Russia. He also announced the opening of three branches of Pasargad Bank in India which will provide brokerage services for all Iranian banks.

Masume Aghashahi, Member of the economic Commission at the Parliament, has said that based on unofficial figures, there is 20 billion dollars in currency within Iranian households. Although in the short term, this may be profitable for the holders, in the long term it will carry negative consequences for currency investors.