Iran has ramped up its gold imports significantly over recent months, turning to gold as a safe haven investment amid ongoing U.S. sanctions. By mid-January, the country imported at least 81 metric tonnes of gold, which is over 300% higher in value compared to last year. Under President Masoud Pezeshkian, Iran is converting a notable portion of its foreign reserves into gold and is now said to have a high gold-to-foreign exchange ratio, reflecting a strategic pivot in its economic policy in the face of external pressures.
Iran has been importing tonnes of gold, reportedly over 300% higher in value compared to the previous year, as a hedge against U.S. sanctions.
President Masoud Pezeshkian's administration has intensified gold imports as a financial strategy amid economic pressures, broadly affecting trade balances and reserves.
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