Iran reappoints former central bank chief
Abdolnaser Hemmati, former governor of the Central Bank of Iran (CBI), has been reappointed to lead the bank, replacing former chief Mohammad-Reza Farzin, who resigned on Monday, News.az reports, citing Xinhua.
The process of Hemmati's appointment had been finalized, Iran's government spokeswoman Fatemeh Mohajerani wrote on X Wednesday.
Hemmati managed to win the domestic banking experts' approval and the cabinet's vote of confidence, She said. The newly-appointed listed his main plans as curbing inflation, controlling foreign currency prices in domestic market through eliminating corruption and economic rents, managing Iranian banks' imbalances and preventing the growth of overdrafts.
Hemmati previously served as the CBI's governor from 2018 to 2021. He served as minister of economic affairs and finance in 2024 and 2025 before being impeached and dismissed in March amid criticism over economic mismanagement.
Iran's rial has depreciated sharply since the United States withdrew from the 2015 nuclear deal in 2018 and reimposed sanctions. The U.S. dollar currently trades above 1,380,000 rials on the open market.
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