Iran General NewsIran's president appoints new head of central bank

Iran’s president appoints new head of central bank

-

AP: Iranian state television says that the country’s president has appointed a private banker as the head of the country’s central bank. Rouhani picked Valiollah Seif to run the country’s financial regulator. It said Seif will replace outgoing central bank head Mahmoud Bahmani.

The Associated Press

TEHRAN, Iran (AP) — Iranian state television says that the country’s president has appointed a private banker as the head of the country’s central bank.

The report Sunday said President Hasan Rouhani picked Valiollah Seif to run the country’s financial regulator. It said Seif will replace outgoing central bank head Mahmoud Bahmani.

Seif ran the private Karafarin bank in Iran. He also supports independence for the central bank and a floating rate for Iran’s currency, the rial, against foreign currencies.

Seif takes over the central bank as sanctions over Iran’s disputed nuclear program have been putting heavy pressure on the country’s economy for the past two years. Oil exports have been slashed in half and the rial has lost two-thirds of its value since late 2011. Inflation also has shot up in the country.

Latest news

Iran Expats Call for UN Investigation of 1988 Massacre

Iranian expatriates have written United Nations Secretary-General Antonio Guterres to once again urge the international organisation to investigate the...

Nearly 70m Iranians Can’t Afford Rice

Nearly 70 million people in Iran cannot afford rice following price increases, according to the secretary of the Rice...

The Confusing Clutter of the JCPOA and Iran’s Hasty Begging

For the Iranian government and its officials, the Vienna negotiations about a new Joint Comprehensive Plan of Action (JCPOA),...

April Human Rights Report for Iran

At the end of every month, Iran Human Rights Monitor puts together a report on the human rights situation...

Iranian Government Versus Working Class

The Iranian government is built on the suppression of the working class, so its legitimacy must be measured by...

New Uprising in Iran?

Protests are increasing in size and scale in Iran, leading many in the ruling system and in the opposition...

Must read

BREXIT Adds a Blow to Iranian Regime’s Crises

By Pooya Stone Following a series of struggles and...

Clinton warns Iran over nuclear program

AP: Secretary of State Hillary Rodham Clinton said Friday...

You might also likeRELATED
Recommended to you