Iran’s president Masoud Pezeshkian has approved the return of Abdolnasser Hemmati to the helm of the Central Bank of Iran, restoring a familiar figure to one of the country’s most sensitive economic posts.
The decision was confirmed publicly through a message shared by the presidential office’s communications team, which stated that the appointment was made directly by presidential order. The announcement follows days of speculation around leadership changes at the bank and puts an end to reports suggesting a possible resignation by the outgoing governor, Mohamed Reza Farzin.
Hemmati is no newcomer to the role. He previously served as central bank governor between mid-2018 and 2021, a period marked by severe international sanctions, sharp currency depreciation, and mounting pressure on Iran’s financial system. His earlier tenure required navigating limited access to foreign reserves while attempting to stabilize the rial under extraordinary constraints.
The governor’s office carries significant responsibility, particularly at a time when monetary policy is closely tied to everyday living conditions. Persistent inflation, volatile exchange rates, and rising household expenses continue to weigh heavily on Iranian consumers, making the central bank’s decisions both economically and politically consequential.
Hemmati’s return comes as Iran faces renewed currency stress, with recent fluctuations sparking public frustration and demonstrations in Tehran. Managing these pressures will likely define the early phase of his renewed mandate, as expectations for stabilization remain high amid a challenging domestic and international environment.
