Washington reinstated its blockade of Iranian ports in July and launched "Operation Economic Outcast" on August 24, a campaign aimed at severing Iran’s remaining links with the global economy.
Iran's central bank governor has dismissed claims of an economic collapse despite the US naval blockade aimed at eliminating Iran's oil exports and draining state coffers. The blockade, which was reinstated in July and intensified in August, has led to a sharp fall in the Iranian rial, losing nearly 35% of its value against the US dollar since July.
The central bank is currently prioritizing inflation control, financial stability, and securing foreign currency for essential goods, while launching a program to sell up to $2 billion to support the rial.
Brief written by urgent.news from Jerusalem Post's own syndicated text.
Machine-written — may contain errors; check the original before relying on it.
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