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Hemmati Blames US Plots for Steep Increase in Forex Rates

Hemmati Blames US Plots for  Steep Increase in Forex RatesHemmati Blames US Plots for  Steep Increase in Forex Rates

The Governor of the Central Bank of Iran Abdolnasser Hemmati reiterated that fluctuations in the foreign exchange market is linked more to external and less to economic factors.
In a note posted on his social media account on Wednesday, Hemmati particularly pointed to the “propaganda” unleashed by the United States to hurt Iran’s currency market. 
“The US government has embarked on its final attempts to turn the currency market upside down in the past several weeks via a propaganda campaign to activate all sanctions [against Iran],” he wrote.
He was referring to a recent US threat to trigger a return of all UN sanctions on Iran using a provision in a 2015 nuclear deal between Iran and world powers, known as snapback, even though the embattled and controversial US president, Donald Trump, abandoned the historic accord in 2018. 
Russia and China have expressed strong opposition, calling for the full implementation of the deal, formally known as the Joint Comprehensive Plan of Action.   

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