Tehran: Iran has sufficient foreign currency despite intensified US sanctions and economic pressure, Central Bank Governor Abdolnasser Hemmati said Tuesday. Addressing US President Donald Trump, Hemmati stated: "Iran has foreign currency, and it has enough."

According to Anadolu Agency, Hemmati made these remarks while speaking at a conference in Tehran, where he also mentioned the central bank's readiness to inject $2 billion into the foreign exchange market. He refuted US claims of an impending economic collapse in Iran, asserting that the country continues to gather foreign currency revenues and receivables, along with maintaining domestic reserves and other undisclosed resources.

Hemmati emphasized that Iran's economic system remains operational despite the introduction of new sanctions, and attributed the recent depreciation of the rial primarily to psychological factors rather than economic fundamentals. He dismissed the notion that Iran is experiencing hyperinflation, although he acknowledged the presence of high inflation and substantial economic pressure.

Furthermore, Hemmati noted that unemployment has increased due to the ongoing conflict and infrastructural damage, but assured that small and medium-sized enterprises would receive priority for financing in the latter half of the Iranian year. These comments come as the Iranian rial continues to face pressure against the US dollar amidst heightened US sanctions and the broader economic impacts of the US-Israeli conflict.

The US has recently intensified its economic pressure on Tehran, targeting crucial sources of Iranian revenue and international trade. Earlier, Iran and the US signed a 14-point memorandum of understanding in June aimed at resolving their conflict, though the interim agreement quickly encountered obstacles.