Iran's foreign exchange reserves are in a "good position", its finance minister said on Friday, as the government grapples with a steep decline in its currency and sanctions from Western countries over its nuclear programme.
Shamseddin Hosseini, Iran's minister of economic affairs and finance, told reporters that the government was taking steps to stabilise the currency, such as curbing speculative demand. In the past two weeks, the rial-dollar exchange rate has emerged as a fault line in Iran's economy as the country resists foreign pressure, denying Western accusations that its nuclear programme is aimed at making weapons.
"We have had to make changes to our currency system after the strengthening of sanctions on our country," Hosseini told reporters at a briefing.
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