Iran announced it had appointed a new central bank governor and declared a public holiday as authorities sought to contain days of protests by businesses and university students over the cost of living and plummeting currency.
Abdolnaser Hemmati, a former minister of the economy, was confirmed as the central bank’s new governor on Wednesday, with government spokesperson Fatemeh Mohajerani saying his appointment had been endorsed by banking experts and had “the government’s vote of confidence”.
His appointment came after Iran’s currency, the rial, plunged to historic lows against the US dollar and inflation rose above 40 per cent, provoking widespread anger over the collapse in living standards and putting pressure on the government to take action.