Al-Monitor | Rohollah Faghihi: In an exclusive interview with Al-Monitor, the governor of Iran�s Central Bank, Abdulnaser Hemmati, said he has been able to strengthen the Iranian rial by 40% since the onset of new US sanctions in 2018 that led to the currency's free fall.

Commenting on INSTEX, a financial mechanism set up by Britain, France and Germany to facilitate Iranian trade in light of US sanctions, the Central Bank chief voiced his pessimism, stating, �I have come to the conclusion that the issue is not with INSTEX and its mechanism. The issue is that the Europeans seem to need US approval for their plans.�

Asked about the destiny of a $15 billion credit line proposal from the French, he answered that �it depends on the Europeans and the United States to work it out.�

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