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Asharq Al-Awsat

World

Asharq Al-Awsat

Iran Replaces Central Bank Governor amid Currency Crash

Iran Mohammad Reza Farzin IRNA

A woman views the showcase of a jewelry store in Tehran Bazaar, in Tehran, Iran December 25, 2022. WANA (West Asia News Agency) via Reuters

Iran appointed a new head of its central bank on Thursday after the currency crashed to its lowest level ever against the dollar amid mass protests and ongoing Western sanctions.

Mohammad Reza Farzin, 57, a senior banker and former deputy finance minister, was tapped to replace Ali Salehabadi, who resigned after 15 months at the post, the official IRNA news agency reported.

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