Tehran: President Masoud Pezeshkian has appointed Abdolnasser Hemmati as the governor of the Central Bank of Iran, according to a presidential decree issued on Wednesday.

According to Islamic Republic News Agency, in the official decree, President Pezeshkian expressed his expectation that Hemmati would implement strategic policies in alignment with the government’s economic team. The focus is on managing the foreign exchange market, addressing banking sector imbalances, and controlling the growth of liquidity.

The president emphasized that these measures should aim at supporting economic growth, preserving and strengthening the value of the national currency, and advancing social justice. Hemmati steps into the role following the resignation of Mohammadreza Farzin, who left his position amid significant volatility and a surge in Iran’s foreign currency market.