Iran: Foreign Currency Accounts Exceed $10m

The value of foreign currency accounts in local banks has exceeded $10 million, following increasing public interest in such accounts, the Central Bank of Iran reported on Thursday.

Annual interest rate of 3%, 4%, and 2% are paid for euro, dollar, and dirham savings respectively and the Central Bank has guaranteed the safety of the original amount plus interest of such accounts.

Past unsavory experiences where customers could not get back the deposits they had made in  foreign currencies  had made the public wary of parking such assets in banks.