BAKU, Azerbaijan, December 31. Iranian President Masoud Pezzekian has appointed Abdolnasser Hemmati as governor of the Central Bank of Iran for a five-year term, Trend reports.
The presidential decree highlighted Hemmati’s dedication, competence, and extensive professional experience as the basis for the appointment. The decision was made in accordance with the Central Bank of Iran Law, following a proposal from the Minister of Economy and Finance and approval by the Council of Ministers.
President Pezzekian stressed that the new governor is expected to focus on organizing and managing the foreign exchange market, correcting banking imbalances, and controlling liquidity growth. These measures aim to support economic growth, maintain and enhance the value of the national currency, and promote social justice.
On December 29, market traders in Iran held protests against the daily depreciation of the Iranian currency (Iranian rial) against foreign currencies. In recent days, the Iranian rial has continued to lose value against foreign currencies in Iran. On December 29, $1 was worth 755,000 rials at the official exchange rate of the Central Bank, but it was being traded for 1.4 million rials on the black market.