Bessent says Friday's coordinated foreign exchange actions countered disorderly yen movements
“The Trump Administration delivers for America's trusted partners. Economic security is national security. And the U.S.-Japan alliance is built on both. Friday's coordinated foreign exchange actions countered disorderly yen movements. Treasury remains attentive and in close”
Bessent says Japan making serious efforts to address substantial yen undervaluation
“The framework for the U.S.-Japan alliance begins with the strong relationship between @POTUS @realDonaldTrump and Prime Minister @takaichi_sanae. We've been in close contact with our Japanese allies, and they are making serious efforts to address the substantial undervaluation https://t.co/87fSbwgt0H”
Bessent reports Iranian rial crashed through 2 million to the dollar as central bank cites revenue collapse
“Iran’s currency keeps plummeting: today, crashing through the exchange rate of 2 million rials to the U.S. dollar. Over the weekend, Iran's Central Bank Governor Abdolnaser Hemmati said that the simultaneous drop in Iran’s oil revenues, tax income, and social security https://t.co/ZjOczci1Xi”
Bessent recalls warning Iranians to exit rial in March 2025 when it was 887,500 to dollar with 35% inflation
“On March 6, 2025, at the Economic Club of New York, I said that if I were an Iranian, I would get my money out of the rial. At the time, "official inflation" was 35%, the currency had depreciated by 60%, and the exchange rate was 887,500 rials to the U.S. dollar. https://t.co/Ix5hv9ZbFY”