The governor of the Iranian Central Bank, Abdolnaser Hemmati, said today that the depreciation of the national currency against foreign currencies is temporary, Agence France-Presse reported. The statement comes amid the ongoing collapse in the value of the Iranian rial, BTA reported.
„The increase in the value of foreign currencies is temporary, i.e. "They are hesitating," Hemmati said in a video broadcast on state television.
"These economic shocks are largely the result of American political propaganda," he added, expressing confidence that "the situation will improve and the problems will be resolved."
Abdolnasser Hemmati made the statement at a time when one US dollar was trading for more than 2 million rials on the black market, according to websites that track these rates, and ahead of a detailed presentation by Washington of economic pressure measures against Iran expected later in the day.
Officially, Iran applies fixed exchange rates, but online sources are usually used as a guide to unofficial rates.
Just before the war in the Middle East, which began with an Israeli-American offensive against Tehran on February 28, one dollar was exchanged for 1.65 million riyals.
“We cannot call into question all the progress made so far because of a temporary hesitation caused by these propaganda attacks“, the central bank governor added, stating that the US cannot “impose more sanctions on Iran“, which has been subject to US and international sanctions for decades.
US Treasury Secretary Scott Besant announced today in an article published in the “Financial Times“, an “economic D-Day“ - a reference to the Allied landings in France in 1944. The aim is to cut off the last “lines of survival“ of Iran, as Washington continues its blockade of Iranian ports, amid Tehran's blockade of the strategic Strait of Hormuz since the start of the war.
“This will be the largest coordinated campaign of economic isolation in world history,“ said Besant, who is expected to detail the US measures at a press conference later in the day.