🔻Iranian Central Bank chief says: Despite pressures from US sanctions and maritime blockade, “we have not entered hyperinflation, and I consider its occurrence unlikely.”

🔻Abdolnaser Hemmati, the head of the Central Bank of Iran, says that despite pressures resulting from US sanctions and a maritime blockade, “we have not yet entered hyperinflation, and I also think its occurrence is unlikely.”

Mr. Hemmati, at an Islamic banking conference in Tehran, announced the Central Bank’s readiness to supply up to $2 billion in currency to the market in order to prevent the rial’s value from falling, and said: “The dust that has been stirred up in the currency market will settle, and the recent rise in the exchange rate is, more than anything else, influenced by the psychological atmosphere rather than real factors.”

He also rejected claims by U.S. officials about the “economic collapse of Iran” and, addressing Donald Trump, said: “Iran has currency, and it also has enough of it.”

The head of Iran’s Central Bank also rejected the claim that Iran’s access to its own financial and currency resources has been blocked due to U.S. sanctions, and said: “Unblocked reserves, various steady resources, and multiple oil and non-oil revenues are available to the Central Bank.”

According to Mr. Hemmati, since the beginning of this year, more than $18 billion worth of currency has been secured and paid for imports of essential goods, medicine, animal feed inputs, and raw materials for production lines.

📸IRNA