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.
Iran's Central Bank Governor, Abdolnaser Hemmati, affirmed on Tuesday that the country possesses ample foreign currency reserves, despite US sanctions and a naval blockade, according to the semi-official Tasnim news agency. Hemmati stated, "Iran has (foreign) currency and it has enough," in a remark directed at reassuring markets and President Masoud Pezeshkian.
He further asserted that the central bank is actively collecting foreign currency receivables and has domestic reserves, though he declined to disclose further details.
Hemmati dismissed the claims of economic collapse, explaining that the current difficulties are part of a psychological warfare campaign. He emphasized, "These claims are just psychological warfare, and the dust will settle soon." The Central Bank was reportedly prepared to inject up to $2 billion into the foreign exchange market to stabilize recent volatility.
US Treasury Secretary Scott Bessent had earlier criticized Iran's actions, suggesting that Tehran was reacting due to its economic losses, labeling it as "lashing out kinetically because they are losing economically." Washington has intensified its economic pressure tactics to compel Iran to comply with its demands, warning that entities engaging in business with Iran might face US sanctions.
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