Iran calls rial’s record fall ’temporary’

In the face of the unbridled depreciation of the Iranian currency, the rial, the country's Central Bank Governor, Abdolnaser Hemmati, has claimed that this situation is entirely 'temporary'. 

The rial has lost about 10 percent of its value in the past two weeks amid reports of a new US "economic war" against Iran and the ongoing war situation. In a speech broadcast on state television, bank chief Hemmati said that the large fluctuations in the currency's value in the market were not permanent and that the situation could be managed.

He directly blames the US government's "political propaganda" for Iran's current economic crisis. He believes that the strain on the local economy is due to such psychological and political pressure from the US. 

However, in the emerging situation, reassuring the people of the country, the head of the central bank emphasized that the currency market will return to normal very soon and the existing economic problems will be permanently resolved.

Source: Al-Jazeera.