Governor of the Central Bank of Iran (CBI), Mohammad-Reza Farzin says Donald Trump’s victory as the next US president has nothing to do with Iran's economy or its financial growth.
Trump as president does not have direct effects on Iran's economy because we do not have any direct commercial, monetary and financial cooperation with the United States and Europe, Farzin told during a televised interview on Saturday night.
The CBI chief, however, acknowledged that global economies and financial markets can feel the heat in case of the change in policy by the incoming US administration.
As you have seen, cryptocurrencies reacted to the arrival of Trump with Bitcoin experiencing a 20% increase, but our exchange rate only reacted by 1%, he said, arguing that part of the fear in markets was caused by the policies of Trump’s previous tenure.
Farzin, although, warned about a severe impact on global markets as well as the economies of China and Europe if Trump renews his past policies related to trade and commerce, especially his tariff regime.
His remarks are in line with western financial experts who have also warned that Trump's victory will lead to a risky time for the United States and rest of the world and any attempt by him to impose higher tariffs can lead to higher prices of goods for general consumers.