Iran confident in forex reserves despite mounting US sanctions pressure

Iran's central bank governor Abdolnaser Hemmati has sought to reassure markets about the country's foreign currency position, asserting that Tehran maintains adequate reserves to weather ongoing US economic sanctions.

Hemmati said the central bank stands prepared to inject up to US$2 billion into the foreign exchange market as needed to address recent fluctuations in currency values. The statement reflects efforts by Iranian authorities to stabilise economic conditions as international sanctions continue to constrain the country's access to global financial systems.

The Iranian rial has faced persistent pressure in recent years as American sanctions have limited the nation's ability to conduct international trade and access global banking channels. The central bank's readiness to deploy forex reserves underscores ongoing attempts to manage currency volatility and maintain economic stability.

Hemmati's comments come as Iran seeks to demonstrate financial resilience amid the sanctions regime, though economists have questioned whether current reserves are sufficient to sustain long-term economic stability without broader policy reforms.