Iran central bank governor resigns

Ali Saleh-Abadi left his job as the governor of the Central Bank of Iran (CBI) and President Raisi's cabinet accepted his resignation and replaced him with M.R. Farzin, Report informs, citing Mehr.

The governor of the Central Bank of Iran resigned amid the recent volatility in the foreign currency market and depreciation of Iran's local currency, the rial, against other currencies.

The price of the US dollar rose to an all-time high of 430,000 Iranian rials on Thursday, up 10,000 rials from a day earlier.

Qamari Wafa, the CBI spokesperson, confirmed the news to the media, adding that President Raeisi's cabinet accepted Dr. Ali Saleh-Abadi's resignation and elected Dr. Mohammadreza Farzin as the new CBI governor.

Farzin has served as the CEO of different Iranian banks, including Bank Melli, Bank Karafarin.