Reserve of foreign exchange surges in Iran: IMF

The International Monetary Fund (IMF) has pointed to a significant rise in Iran’s foreign exchange reserve.

In its latest World Economic Outlook report, the IMF said the Iranian reserve of foreign exchange rose by 14.3 billion dollars in 2015, registering a record of 125.9 billion dollars.

It added however that the reserve could slightly slim and settle at $125.6 billion this year.

Similarly, the international financial organization forecasted the country’s gross domestic product (GDP) to hover around $386 billion in 2016 from last year’s $387.7 billion.