Central Bank of Iran

The Central Bank of Iran (CBI) is the country's primary monetary authority, responsible for managing the national currency (Rial), controlling inflation, and overseeing the banking system. Recent news highlights the CBI's struggles amidst economic hardship and international conflict. Faced with soaring inflation, the CBI has resorted to printing large denomination banknotes, including 10 million Rial notes, to meet the population's demand for cash. Simultaneously, reports indicate the CBI is utilizing significant amounts of cryptocurrency, specifically Tether, potentially to circumvent sanctions or facilitate international transactions. This activity has drawn scrutiny due to Tether's association with political figures. The CBI's actions reflect the pressures of a struggling economy impacted by both internal inflation and external conflicts, making its role crucial in navigating Iran's financial challenges.