Reports of the resignation of Central Bank of Iran (CBI) Governor Mohammad Reza Farzin were dismissed on December 29, state-linked Mehr News Agency reported.

Enquiries to the CBI indicated that Farzin's resignation from the governor position was raised earlier in the month and is not a new matter, with no fresh developments occurring during December 24.

Mostafa Qamari Vafa, director general of the Central Bank's public relations department, announced that the government's economic team is currently meeting with Farzin and economic ministers at the Central Bank.

"Following the respected president's emphasis and in line with recent coordination meetings of the government's economic team regarding foreign exchange, trade and people's livelihood policies, these meetings are currently continuing at the Central Bank. The results of these meetings will soon be summarised and announced by the government," Qamari Vafa stated.

The denial comes as the Iranian rial has weakened against the US dollar, trading at approximately IRR1.39mn per dollar. Protests have continued for two days in Tehran over the currency's decline and the CBI's poor handling of the persistent decline in the national currency's value in recent months.

The meeting follows a presidential push and continues recent coordination sessions by the government's economic team on currency, trade, and people's livelihood policies, the Central Bank stated. Results from the meetings will soon be summarised and announced by the government, it added.

The Central Bank governor has faced pressure over monetary policy management amid currency volatility and inflation concerns affecting Iranian households. Farzin has held the position since July 2023, when he replaced Ali Salehabadi. 

The current governor has served under two administrations, including the former Raisi administration. The previous president died in a helicopter accident near the border with Azerbaijan and Armenia.