New Central Bank Governor Abdolnasser Hemmati Takes Charge as Rial Collapses and Metals Markets Prompt CME Margin Hikes
Iran appointed Abdolnasser Hemmati as central bank governor amid mass protests after the rial collapsed to 1.38 million against the dollar; CME raised metal margins.

Iran appoints new central bank governor after mass protests as currency hits record low

Iran appoints new central bank governor after record currency fall and mass protests
Iran appoints new central bank governor after mass protests as currency hits record low

Protests erupt in Iran over currency’s plunge to record low
Overview
Abdolnasser Hemmati, a former economics minister, was appointed by President Pezeshkian's Cabinet to replace Mohammad Reza Farzin amid protests and a record rial decline.
Rial depreciation accelerated from about 430,000 per dollar in 2022 to 1.38 million, fueling public anger as inflation surges around 40% and household costs rise.
Traders and shopkeepers in Tehran, Shiraz and Kermanshah closed shops; protests in Fasa turned violent with the governor's office stormed and three policemen injured, officials said.
Hemmati's stated agenda is to control inflation, stabilize the rial, and address bank mismanagement, government spokeswoman Fatemeh Mohajerani said this week.
Meanwhile global markets reacted: Chicago Mercantile Exchange raised cash margin requirements for gold, silver and other metals after dramatic price gains this year.
Analysis
Center-leaning sources frame the story by emphasizing the economic crisis and its impact on public discontent, using terms like "mass protests" and "record currency fall" to highlight the severity. They prioritize expert opinions on inflation and currency depreciation, while also noting government responses to protests, suggesting a narrative of economic mismanagement and public unrest.