Economy / Central Banks
Add as a preferred source on GoogleThe rial’s value against the U.S. dollar was down about 35% since July, while households faced higher costs for housing, medicines and car repairs.
Central Bank of Iran Governor Abdolnaser Hemmati said the economy remained functional as September inflation reached 73.6%, even as household expenses for housing, medicines and car repairs weighed on citizens.
Hemmati disputed descriptions of a collapsing economy, while conceding that economic conditions were weighing heavily on residents.
The rial’s exchange value against the U.S. dollar was down about 35% since July.
The value of UK octopus exports reached £12.8 million in 2025, while a survey found mixed effects on crab and lobster businesses.
Multilateral development banks provided about $65 billion in direct financing in 2026, up from about $35 billion annually before the COVID-19 pandemic.
The next rate decision is set for Nov. 5, with inflation and wage-growth figures expected beforehand.
