Iran says it has enough foreign currency despite US sanctions
The central bank said it is collecting receivables and holding domestic reserves as the rial hits a record low and inflation reaches 66%.
- Central Bank Governor Abdolnaser Hemmati stated on Tuesday that Iran maintains sufficient foreign currency reserves despite United States sanctions, countering Treasury Secretary Scott Bessent's Monday assertion that Tehran is "lashing out kinetically because they are losing economically."
- Iran's currency plunged to a record low of 2 million rials to the United States dollar in August, while annual inflation reached 66% in July, intensifying economic pressure on the nation.
- To stabilize volatile markets, Hemmati said the central bank is prepared to inject up to $2 billion into the foreign exchange market while continuing to collect foreign currency receivables and domestic reserves.
- Hemmati dismissed external claims as "psychological warfare", stressing to Iranians that "collapse has never happened and will never happen" despite acknowledged economic difficulties.
- Washington continues relying on economic pressure to force Tehran to meet its demands, while President Masoud Pezeshkian has acknowledged the nation faces growing difficulties amid United States sanctions and a naval blockade.
29 Articles
29 Articles
Iran's Central Bank chief says regime has enough foreign currency despite US sanctions, blockade
The central bank was ready to inject up to $2 billion into the foreign exchange market to calm recent volatility, while the Iranian rials plunged to a record low in August.
The Governor of the Central Bank of Iran, Abdul Nasser Hamti, confirmed that Tehran had sufficient foreign exchange reserves, stating that the Bank was ready to pump $2 billion to calm exchange market fluctuations.
Can Iran’s Economy Withstand US Sanctions?
Iran says it has sufficient foreign currency reserves to withstand growing US economic pressure, as Washington intensifies sanctions aimed at weakening Tehran’s economy and forcing it to change its policies. The statement comes amid severe economic pressures, including a record fall in the Iranian rial and very high inflation. Iran Signals Economic Resilience Central Bank […] The post Can Iran’s Economy Withstand US Sanctions? appeared first on …
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