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Iran's Central Bank Governor Has Blamed The Fall In Currency On Protests By Citizens

In a televised interview on Saturday, Ali Salehabadi said that "speculators and some political actors" were also involved in the depreciation of the Iranian Rial.

Salehabadi's comments follow hundreds of reported protests by Iranian citizens who are angry at their country's accelerating economic problems, including unemployment and high inflation, as well as civil rights violations.

On Sunday, Tehran saw its fifth straight day of protests, with over 200 people arrested.

Since the beginning of the year, the Rial has lost roughly half of its value.

"From last week and after the issues, which may not be understood by ordinary people," Salehabadi explained, "there has been a psychological war against the Rial."


He added that causes included "using money in (foreign) markets and bringing it into Iran, or speculation by some people, and also in some cases, political actions."

"It is obvious to us that Americans are involved in this game," he said. "And those who were active in the recent events should be responsible for this situation," he added.

Former US President Donald Trump withdrew from Iran's nuclear deal with world powers in the past, calling it deeply flawed.

He designated Iran's Islamic Revolutionary Guard Corps as a "terrorist" organization, which led to further US sanctions against the country.


In July, Iran's central bank governor vowed that the Rial would stabilize by the year's end.

Mohammad Reza Bahonar said at the time that Iranian authorities were working on a plan to prevent further depreciation of the Rial and that they were hoping to prevent further losses in value. However, he also said the currency would be stabilized within two months and possibly sooner.

"The recent events and disruptions have affected the normal course of economic life," he said. "This has caused a tight monetary situation that has led to a shortage of liquidity, a drop in prices, and an increase in unemployment."

He said there was only one way to counter these problems, which is to "significantly reduce unnecessary expenses so that they are lower than our income."

In conclusion, it is vital to mention the idea that Iran's central bank governor has blamed the fall in currency on protests by citizens. Salehabadi said that "speculators and some political actors" were also involved. The Rial has lost roughly half of its value since the beginning of the year. Currently, Iran is trying to bring back talks on the nuclear deal amid accusations of civil rights violations. 


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