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Iran Central Bank Chief Vows to Deploy $2B to Stabilize Currency Amid US Sanctions
Finance · Major Banks · yonhap_finance · 2026-09-01
Central Bank of Iran Governor Abdolnasser Hemmati claims the nation has sufficient foreign reserves and is ready to inject $2 billion to stabilize the rial.
What Happened
Foreign Reserve Status: Central Bank of Iran Governor Abdolnasser Hemmati has dismissed claims by US officials that Iran lacks access to its foreign exchange resources. He asserted that the country maintains stable access to its reserves, including previously frozen assets and ongoing export revenues from oil and non-oil sectors.
Market Intervention Strategy: Hemmati announced that the central bank is prepared to inject up to $2 billion into the market to ensure currency stability. This follows a recent allocation of $500 million, signaling a proactive stance against the impact of intensified US economic sanctions.
Essential Goods Funding: The governor highlighted that over $18 billion in foreign currency has been provided since the start of the year to facilitate the import of essential goods, including medicine, animal feed, and raw materials for production. This data is intended to demonstrate that the Iranian economy continues to function despite external pressures.
Economic Context: The statement comes as the Iranian rial has plummeted to record lows on the unofficial market due to geopolitical tensions and strict US sanctions. The government is actively working to calm domestic market anxiety following public acknowledgments of economic hardship by high-ranking officials.