US Plot to Destabilize Iran’s Forex Market Failed: Central Bank Chief

Abdolnasser Hemmati made the remarks in a Friday statement, the full text of which follows:

1- The relentless efforts by the US and its agents to destabilize money and foreign exchange markets in Iran is not something new. These efforts have aimed at sawing negative expectations and bringing the Iranian economy to its knees.

2- Despite all pressures and pain imposed on us, they have certainly failed to achieve their goals. Measures taken by the Central Banks have contained attempts to distort expectations and induce hyper inflation.

3- The temporary surge in the inflation rate, in the first months of this year, mainly due to the pandemic and adverse expectations, is being contained. The central banks is committed to achieve its announced inflation target and is utilizing all tools to do so.

4- All basic goods are appropriated and the required foreign exchange resources are being provisioned through both the Central Bank and the NIMA system. Despite the fact that the oil revenues have fallen substantially, with the help of our exporters we have provided foreign exchange resources for basic goods and raw materials.

5- The Central Bank has devised its plans based on continuation of illegal and unilateral US sanctions. Last minutes desperate attempts to strengthen sanctions will not deter our plans for maintaining market stability.

6- The Central Bank has put all its efforts to maintain market stability and mitigate speculative fluctuations, to help sustain economic prosperity and growth. We continue monitoring macroeconomic variables and take appropriate action when deemed necessary.