Tehran: Iran has sufficient foreign currency reserves to manage pressure from US sanctions, Central Bank Governor Abdolnaser Hemmati said, as Tehran seeks to stabilise its foreign exchange market amid economic difficulties.
Hemmati’s remarks came after US Treasury Secretary Scott Bessent said Iran was “lashing out” because it was losing the economic war against the United States.
Speaking through Iran’s semi-official Tasnim news agency, Hemmati said the central bank was prepared to inject up to 2 billion dollars into the foreign exchange market if needed to address recent volatility.
“I am telling the President of the United States: Iran has (foreign) currency and it has enough,” Hemmati said.
He said the central bank was continuing to collect foreign currency receivables and had access to domestic reserves and other resources. However, he said details about those resources could not be disclosed.
Iran has faced sustained economic pressure from US sanctions, which have restricted its access to international financial markets and affected its oil exports and foreign currency earnings. The pressure has also contributed to difficulties for businesses and households, while the Iranian rial has faced periods of volatility.
Hemmati acknowledged the impact of the economic situation on ordinary Iranians, saying that managing livelihoods had become difficult.
“I tell the people with complete honesty that economic conditions and livelihood management have become difficult, but collapse has never happened and will never happen,” he said.
He dismissed claims that Iran’s economy was heading towards collapse as psychological warfare and said the current uncertainty would ease.
The central bank’s plan to inject up to USD 2 billion into the foreign exchange market signals Tehran’s intention to use its available reserves to limit further fluctuations in the rial and maintain confidence in the financial system.
The comments come as tensions between Washington and Tehran remain centred on sanctions, Iran’s economy and its ability to withstand US economic pressure.
While Washington has sought to increase pressure on Iran through sanctions, Iranian officials have repeatedly said the country has developed mechanisms to continue trade and access foreign currency despite restrictions.
Hemmati’s latest comments appear aimed at reassuring both domestic markets and the public that the central bank has sufficient resources to respond to currency pressures, even as economic conditions remain difficult.
