Central Bank: Iran's banknote reserves in good condition
Baku, Azerbaijan, Feb. 26
By Elnur Baghishov – Trend:
Iran's banknote reserves are in a good condition, Abdolnaser Hemmati, Governor of the Central Bank of Iran, said at the 58th session of the Central Bank, Trend reports referring to Ibena.
According to Hemmati, not the Iranian currency reserves haven't been used up, but have also grown.
He added that necessary steps have been taken despite the challenging conditions in the country.
"The task of the Central Bank of Iran is to improve the situation. But in the past, there was no other choice but to prevent the deterioration of the situation," he said.
Hemmati stated that it is possible to move towards the improvement of the situation, and that more important decisions will be made in the coming months to reduce the pressure and improve the welfare of the people.
There have been several waves of devaluation in Iran since the summer of last year. As such, the price of $1 rose from 35,000 rials to 210,000 rials, having then dropped to 120,000 rials.