Reshuffle of Government Economic Team Expected

The Iranian media have been reporting for the past week that changes in the economic team of President Hassan Rouhani’s administration are expected, after forex, gold coin and housing woes intensified.
Central Bank of Iran Governor Valiollah Seif is widely expected to be replaced when his five-year term ends in a matter of weeks. He took the helm of the monetary regulator in August 2013.
Seif is mainly under fire over Iran’s currency crisis of the past few months. Foreign exchange prices have been continuously rallying and Iran’s rial reached a nadir of 90,000 rials for each US dollar last week. When he took office, the rate hovered around 30,000 rials.
On April 17, a week after the government unified foreign exchange rates to prevent the further slide of rial, Seif addressed calls for his resignation, especially one by the head of Majlis Economic Commission Mohammad Reza Pour-Ebrahimi.