TEHRAN: Iran has sufficient foreign currency resources despite intensified US sanctions and economic pressure, Central Bank Governor Abdolnaser Hemmati said on Tuesday, seeking to reassure markets following a sharp decline in the Iranian rial.
Hemmati said the central bank remained prepared to inject up to $2 billion into the foreign exchange market to contain recent volatility, according to the semi-official Tasnim news agency.
“I am telling the President of the United States: Iran has foreign currency and it has enough,” Hemmati said.
His remarks followed comments by US Treasury Secretary Scott Bessent, who argued that Tehran was reacting militarily because Washington’s economic pressure campaign was succeeding.
Hemmati Rejects Claims of Iranian Economic Collapse
Hemmati acknowledged that managing Iran’s economy and household livelihoods had become increasingly difficult. However, he rejected suggestions that the country faced economic collapse.
Moreover, he said the central bank continued collecting foreign currency receivables and maintained domestic reserves and other financial resources, although he declined to disclose details.
Iran’s currency came under severe pressure in August, falling beyond the symbolic level of two million rials against the US dollar.
Meanwhile, annual inflation reached 66 per cent in July, adding further pressure on Iranian households.
Washington Intensifies Economic Pressure on Tehran
Bessent said on Monday that Iran was taking American sanctions seriously and claimed Tehran was “lashing out kinetically because they are losing economically.”
Furthermore, Washington has increasingly relied on financial pressure as it seeks to push Tehran towards accepting US demands.
Bessent has also warned companies, financial institutions and other entities conducting business with Iran that they could face American sanctions.
Nevertheless, Hemmati maintained that Iran’s financial system continued functioning despite sanctions and a naval blockade.
He characterised predictions of economic collapse as psychological warfare and expressed confidence that current market pressure would eventually ease.
