TEHRAN – The Central Bank of Iran (CBI) has provided nearly $30 billion in foreign currency to finance imports of essential goods and other required products from the beginning of the current Iranian year (late March) through October 7, Governor Abdolnaser Hemmati said.
Speaking at a meeting of the Bushehr Province government-private sector dialogue council, Hemmati said the central bank had supplied the funds over a period of seven months and 15 days despite the country’s foreign currency constraints.
He stressed the need to carefully manage foreign exchange resources, saying that despite revenue limitations and difficult conditions for oil and non-oil exports, the central bank had prioritized imports of essential goods by anticipating domestic needs and managing available resources.
There had been no shortages of essential goods in the domestic market so far, while the supply of production inputs and medicines would continue, he added.
Hemmati identified inflation management, monetary discipline, securing foreign currency for imports and supporting domestic production as key priorities, stressing the need to balance support for businesses with liquidity management and inflation control.
Abandoning monetary discipline could fuel inflation and further erode household purchasing power, he warned.
He also said the country’s banking network had extended more than 9,000 trillion rials in credit since the beginning of the year, with more than 75 percent allocated to businesses. Most of the financing had been directed toward meeting companies’ working capital needs.
Referring to the economic objectives of the recent war, Hemmati said the enemy had sought to trigger economic collapse and hyperinflation, cut off foreign currency revenues from exports and halt domestic production. However, these objectives had not been achieved, he added.
The central bank governor said measures taken over the past 40 days to counter pressure on the foreign exchange market had produced positive results, with exchange rates declining during that period.
He said financing production and preventing damage to business activities under difficult economic conditions remained central bank priorities, while emphasizing that credit allocation must reflect available resources and national priorities rather than attempting to meet every financing request.
Hemmati also said the central bank was prepared to help finance the reconstruction of businesses damaged in Asaluyeh, following visits to affected economic units. He added that the bank would pursue concerns raised by business representatives and provincial officials through specialized meetings.
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