Central Bank: Current Exchange Rate Does Not Match Economic Fundamentals

Iran's Central Bank (CBI) said in an official statement on Friday, October 2, 2026, that its assessments show the current exchange rate does not fully match the economy's fundamental variables, and that a significant part of the gap stems from heightened uncertainty, psychological pressure and market expectations. The bank stressed its goal is not to defend a specific rate but to preserve monetary and exchange stability and prevent unsupported volatility from becoming entrenched. Per the statement, buying and selling foreign currency and gold and intervening in the market are among its legal tools under the new Central Bank law, and it will strengthen its reserves when appropriate. The statement came a day after the CBI injected 2 billion dollars into the market and raised the services dollar cap to 10,000 dollars, while the free market dollar had reached near 258,000 tomans earlier the same week.