Iran adds more than $1bn in oil revenue to foreign reserves

Iran received more than $1bn in oil revenue during the 11 days to September 2, according to the semi-official Fars news agency. Fars said documents reviewed by its reporter showed that authorities had transferred the foreign currency generated by oil exports into Iran’s reserves. The inflow will strengthen the central bank’s ability to cover the country’s foreign currency requirements, the report added. Iran generated more than 80 percent of the oil income forecast in its 2026-27 budget during the first five months of the fiscal year, which began on March 21.