Iranian Officials Blame Currency and Gold Crisis on 'Intelligence Services' and 'Dirty Hands'

In response to the rising prices of currency and gold, the head of the judiciary of the Islamic Republic described these events as 'suspicious' and stemming from 'dirty hands behind the scenes.' The Speaker of Parliament also stated that 'enemy intelligence services are focusing on the gold market.' Ali Larijani, the Speaker of the Iranian Parliament, said on Monday, August 8, in a meeting of one of the parliamentary factions that 'enemy intelligence services are trying to harm the country's economy under different covers.' He emphasized without providing evidence that these security organizations 'are focusing more on this area because they know that turbulence in the currency and gold markets harms the country's economy.' Just a day before these remarks, the Central Bank of Iran attributed the historic rise in the dollar rate and the surge in the gold market 'mainly' to 'enemies,' stating that these developments 'do not correspond with the economic realities of Iran.' The sudden increase in currency and gold prices occurred after the U.S. withdrawal from the JCPOA. However, most officials of the Islamic Republic attribute this price increase to 'psychological shock' and 'exploitation by brokers.' Meanwhile, the head of the judiciary stated that the source of the recent turbulence in the currency and gold markets 'is not real.' Sadeq Larijani described the fluctuations in the currency and gold markets as 'suspicious' and likely caused by 'some dirty hands behind the scenes.' He added that the actions of some 'disruptors' in the economic system are 'corruption on earth,' and the judiciary will not hesitate to punish them. His statements came a day after Gholamhossein Mohseni Ejei, the spokesperson for the judiciary, announced the arrest of 29 people, whom he referred to as 'economic disruptors.' Following the sudden increase in currency prices in Farvardin this year, the police and judiciary of Iran announced the arrest of what they called 'currency and gold brokers.' These individuals were arrested while, according to the regulations of the Central Bank of Iran, there are no restrictions on purchasing gold coins, and Iranian laws do not refer to any crime related to holding gold coins. 'New currency policies will be announced.' The increase in currency prices, which began in Farvardin, continues, and the government's policies to control the currency market have not yielded results. Nevertheless, the Speaker of Parliament stated on Monday that the formulation of new currency policies has been finalized and will be announced in the coming days. The First Vice President of Iran also announced that the Central Bank is looking to revise currency policies and present a new proposal package for managing the currency market. Eshaq Jahangiri stated, 'The new situation ahead is not permanent, and if we can manage this situation well and help the country pass through this phase, the economy will stabilize.' According to the previous government policy, the currency needed for importing all goods was provided at a rate of 4200 tomans per dollar. This action drew criticism from several experts, and Akbar Turkan, an advisor to the Iranian President, also stated that importers sell goods brought in with the 4200 toman currency at a price of 8000 tomans per dollar using 'a thousand tricks and deceptions.' Ultimately, in Tir, the government practically accepted the failure of this policy and created a 'secondary currency market,' which means a three-tier currency system.