TEHRAN – Iran’s Central Bank Governor Abdolnaser Hemmati has rejected claims that the country’s economy is on the verge of collapse, saying Iran has sufficient foreign currency resources and reserves to meet its needs.
 Speaking at the 36th Islamic Banking Conference on Tuesday, Hemmati said: “I categorically state that the claim that Iran has entered economic collapse is not true.”
He said Iran’s foreign currency inflows and collection of outstanding resources are continuing, adding that the country not only has domestic reserves but also possesses additional resources whose details cannot be disclosed for various reasons.
Responding to U.S. President Donald Trump’s remarks, Hemmati said: “Iran has foreign currency, and it has enough of it.”
The Central Bank governor also announced that the bank is prepared to inject up to $2 billion into the foreign exchange market to help stabilize conditions, adding that recent fluctuations have been driven more by psychological factors than by actual economic fundamentals.
Hemmati pointed to ongoing sanctions pressures against Iran, saying that despite the imposition of new restrictions, the country’s economic system continues to operate and the supply of foreign currency needed for citizens, production
 sectors and essential economic activities is ongoing.
He also said that despite inflationary challenges, Iran has not entered a phase of hyperinflation and that the likelihood of such a scenario remains low, citing monetary and precautionary measures taken by the Central Bank to contain inflationary pressures.
Referring to the impact of recent events on parts of the economy, Hemmati said small and medium-sized enterprises remain a priority for financial support. He noted that bank lending has reached 4,050 trillion rials since the beginning of the year through September 6, marking a 69 percent increase compared with the same period last year.
The Central Bank governor stressed that the image of halted production in Iran is inaccurate, saying businesses continue to operate. He added that the Central Bank has used non-inflationary financing tools, including supply chain financing instruments, electronic bills of exchange and factoring, providing 224 trillion rials in financing through these methods so far, with a target of increasing the figure to 700 trillion rials.