Abdolnaser Hemmati, the Governor of the Central Bank of Iran, discussed the reasons for the increase in currency rates in a television interview and stated that this increase is primarily due to inflationary expectations and psychological manipulation, not a shortage of currency resources.
Provision of $2 Billion in Currency
Hemmati said: "We entered the currency market two days ago, and the market has reached a relative stability. The reason we provided $2 billion in currency for the market was to make Trump and his Treasury Secretary understand that we do not have a problem with currency supply."
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Plan to Sell Dollars to Individuals
The Central Bank of Iran has also initiated a plan to sell dollars directly up to $10,000 to each individual. Hemmati stated that in recent days, an average of $5,000 has been purchased per person.
While the value of the rial has significantly declined in recent months and the price of each dollar in the free market has reached about 270,000 tomans, Hemmati commented on the status of Iran's currency reserves, saying: "We have transferred large amounts of resources that were in trusts and in insecure paths to safer places, and we now have currency backing."
Provision of Essential Goods
Hemmati referred to the management of the country under conditions of war and sanctions, stating: "From the very beginning of the year, I assured the Supreme Leader that he should not worry about the supply of essential goods, medicine, and raw materials for factories."
He also added: "From the beginning of the year until mid-October, we provided $24.9 billion in currency for goods entering the country. This figure is a 12% decrease compared to the same period last year, which was $28 billion."
The head of the Central Bank of Iran also reported that about $21 billion of export currency has not returned to the economy, stating: "Nearly $13 billion of it has been identified."
Hemmati also addressed the U.S. Treasury Secretary, saying: "Only five days remain from that two-week deadline they set for the collapse of the Iranian economy. We are here today to talk about the economic achievements of the country and to emphasize that this prediction will never come true."
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