Central Bank of Iran Governor Defends 1-Year Mandate

Governor of the Central Bank of Iran Abdolnasser Hemmati has reviewed the achievements of the bank one year after he took office and outlined future plans.

Financial Tribune- In an Instagram post Thursday, Hemmati pointed to the relative stability in the currency market and efforts to strengthen the national currency as the highlights during his incumbency as the country’s top banker.
He said “adversaries” vowed to undermine the national currency when he took office in the summer of last year. “With the noose of economic pressure tightening and currency rates skyrocketing, I accepted this major responsibility and pledged to do all I can to improve the economic conditions and reduce the heavy pressure,” he wrote.
The former head of the Central Insurance company of Iran, Hemmati succeeded Valiollah Seif on July 25, 2018. His predecessor was forced to resign following mounting criticism over his inability to control forex rates and market volatility that led to the tanking of the rial.

Publish Date: Jul 27, 2019