Iran’s Ex-Central Bank Chief Reappointed
Iran's government spokeswoman Fatemeh Mohajerani confirmed Wednesday on X that Hemmati's appointment process had been completed.
Hemmati secured approval from domestic banking specialists and obtained the cabinet's confidence vote, Mohajerani noted. The newly-appointed governor outlined his primary objectives as reducing inflation, stabilizing foreign currency valuations in domestic markets by eliminating corruption and economic privileges, addressing Iranian banking sector imbalances, and halting overdraft expansion.
Hemmati previously directed the CBI from 2018 through 2021. He held the position of minister of economic affairs and finance during 2024 and 2025 before facing impeachment and removal in March following accusations of economic mismanagement.
Iran's rial has experienced severe devaluation since Washington exited the 2015 nuclear agreement in 2018 and restored sanctions. The US dollar presently exchanges above 1,380,000 rials in open market trading.
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