| Iran's foreign reserves total between US$115 billion and US$125 billion (£74.2 billion and £80.7 billion), including assets in its sovereign wealth fund, its industry minister said on Friday in one of the most detailed public descriptions of the reserves by an Iranian official.
The size of the foreign reserves and the way in which Iran uses them will be crucial in its efforts to rebuild its economy after years of international sanctions, which may be removed around the end of this year after last week's agreement between Tehran and world powers on its nuclear programme. The National Development Fund of Iran, which was founded in 2011 and receives a portion of oil and gas export proceeds, has around US$20 billion to US$25 billion...............................................Full Article: Source
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