Iran says it has enough foreign currency despite US sanctions
Governor Abdolnaser Hemmati said the Iranian central bank was ready to inject up to US$2 billion into the foreign exchange market to calm recent volatility.
Abdolnaser Hemmati, the Central Bank of Iran's governor, stated on Tuesday that Iran possesses sufficient foreign currency reserves, even with US sanctions in place. The bank is prepared to inject up to $2 billion into the foreign exchange market to mitigate recent volatility, according to the semi-official Tasnim news agency. Hemmati emphasized that Iran holds foreign currency and has adequate resources to sustain itself.
He addressed the US treasury secretary, Scott Bessent, and other critics, asserting that Iran's economic challenges are merely a psychological tactic to provoke further conflict. Despite Iran's currency hitting a record low and annual inflation reaching 66% in July, Hemmati remains confident that economic conditions will improve and the crisis will resolve soon.
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