Iranian security officials called for public calm Wednesday amid currency market turbulence, attributing recent volatility to psychological factors rather than fundamental economic issues.

Aliakbar Pourjamshidian, Deputy Minister of Interior for Security Affairs, urged citizens and business owners to disregard what he characterized as “hostile propaganda” designed to exacerbate market instability.

“All responsible institutions, including the government, are seriously working to resolve the problems and volatility seen in the currency market,” Pourjamshidian said, addressing growing public concern over the sharp depreciation of the Iranian rial in recent weeks.

The rial has experienced significant fluctuations against major foreign currencies, particularly the US dollar, putting pressure on businesses and consumers already struggling with inflation and economic sanctions. Market analysts suggest the currency’s latest decline reflects both domestic economic challenges and geopolitical tensions.

Pourjamshidian emphasized that recent exchange rate movements stem primarily from market psychology and speculative behavior rather than actual currency shortages or economic fundamentals. This assessment aligns with the government’s consistent position that external forces are attempting to manipulate Iran’s economy.

“Psychological warfare should not be allowed to disrupt the market,” the security official warned, suggesting that foreign actors are actively trying to exploit Iran’s economic vulnerabilities to create social unrest.

The comments come as scattered protests by shopkeepers and market traders have emerged in several urban centers, particularly in Tehran’s traditional bazaar, a historically significant economic and political barometer. Some merchants have temporarily closed their shops in response to pricing uncertainties caused by exchange rate fluctuations.

Iran’s economy has faced persistent challenges since the reimposition of US sanctions following America’s withdrawal from the nuclear agreement in 2018. The sanctions have restricted Iran’s oil exports, limited its access to international banking systems, and complicated import-export operations for Iranian businesses.

Despite these difficulties, Pourjamshidian sought to reassure the public that Iran faces no shortage of essential goods or supplies. “Market activity should continue calmly, and the public has no reason for concern,” he stated, urging traders and shopkeepers to demonstrate patience while authorities work to stabilize the currency market.

Economic experts note that Iran’s Central Bank has previously intervened in the foreign exchange market to stem volatility, including injecting foreign currency reserves and implementing restrictive measures on currency trading. It remains unclear whether similar interventions are currently being considered.

The government’s response reflects its ongoing challenge of balancing economic realities with political messaging. While officials publicly downplay the severity of the situation and attribute problems to external actors, the Iranian government has also implemented various economic reforms to address structural issues in its economy.

Pourjamshidian’s appeal for public cooperation highlights the authorities’ concern that economic grievances could transform into broader political dissent, a pattern seen in previous periods of economic hardship in the country.

“Government officials and parliament are fully committed to stabilizing the market,” he emphasized, calling on citizens to remain vigilant against what he described as “enemy inducements” designed to exploit economic frustrations.

Financial analysts observe that restoring confidence in the currency market will likely require more than reassurances, potentially necessitating concrete policy actions to address underlying economic imbalances, including high inflation, budget deficits, and banking sector weaknesses.

For ordinary Iranians, the currency volatility translates to practical difficulties in daily life, including rising prices for imported goods and uncertainty in business planning, adding urgency to the government’s efforts to achieve economic stability.