Iran has sufficient foreign currency reserves to withstand US sanctions and recent economic pressures, Central Bank Governor Abdolnaser Hemmati said on Tuesday.
Hemmati said the Central Bank was prepared to inject up to $2 billion into the foreign exchange market to help stabilise the rial and ease recent volatility.
“Iran has foreign currency and it has enough,” Hemmati said, in remarks reported by the semi-official Tasnim news agency.
His comments came amid growing concerns about Iran’s economy, which is facing intensified US sanctions and a naval blockade. Iranian officials, including President Masoud Pezeshkian, have acknowledged increasing difficulties for the economy.
Hemmati said the Central Bank was continuing to collect foreign currency receivables and had domestic reserves and other financial resources, although he did not disclose further details.
He also sought to reassure the public, saying that while economic conditions and managing livelihoods had become difficult, Iran’s economy had not collapsed and would not do so.
Iran’s rial fell to a record low in August, passing the 2 million-rial-per-dollar threshold, while annual inflation reached 66% in July, according to the report.
The comments followed remarks by US Treasury Secretary Scott Bessent, who said Iran was taking US sanctions seriously and was responding militarily because it was losing the economic battle.
Washington has increasingly used economic pressure to force Tehran to meet its demands, while Bessent has warned that companies and individuals doing business with Iran could face secondary US sanctions.
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