No impact on Iranian economy with Trump's election win :CBI chief

Governor of the Central Bank of Iran (CBI), Mohammad-Reza Farzin says Donald Trump’s victory as the next US president has nothing to do with Iran's economy or its financial growth.

News ID: ۲۰۰۰۲۸۸

10 November 2024

EghtesadOnline: Farzin told a televised interview on Saturday night that Trump's election as president does not have direct effects on Iran's economy because Tehran does not have any direct commercial, monetary, and financial cooperation with the United States and Europe.

The CBI chief, however, acknowledged that global economies and financial markets could feel the heat if the incoming US administration changes policy.

As you have seen, cryptocurrencies reacted to the election of Trump with Bitcoin experiencing a 20% increase, but our exchange rate only reacted by 1%, he said, arguing that part of the fear in markets was caused by the policies of Trump’s previous tenure.

Farzin, however, warned about a severe impact on global markets and the economies of China and Europe if Trump renews his past trade and commerce policies, especially his tariff regime.

His remarks are in line with Western financial experts who have also warned that Trump's victory will lead to a risky time for the United States and the rest of the world and any attempt by him to impose higher tariffs can lead to higher prices of goods for general consumers.

On the domestic front, the head of Iran’s Central Bank expressed hopes that the country’s inflation will decrease to 30% by the yearend and then to 20%. / Mehr