Central Bank

The Central Bank of Iran is the nation's primary monetary authority, responsible for managing the country's currency, foreign exchange reserves, and monetary policy. It is newsworthy due to the Iranian Rial's recent record low against the US dollar, reaching 1,500,000 rials per dollar. This devaluation has sparked widespread protests across Iran, fueled by economic hardship and discontent. The bank's efforts to circumvent international sanctions, particularly those related to oil exports, have come under scrutiny, with reports of billions in oil funds not being repatriated and the seizure of tankers allegedly violating sanctions. These events highlight the Central Bank's struggle to maintain economic stability amidst international pressure and internal unrest, making it a central player in Iran's current political and economic landscape.