Iran's finance minister said on Friday that despite sanctions imposed on the country by Western nations, Iran's foreign exchange reserves are in a "good position".

Shamseddin Hosseini, Iran's minister of economic affairs and finance, told reporters the government was taking steps to curb speculative demand and other measures to combat a sharp decline in Iran's rial.

Hosseini was in Tokyo to attend meetings of the International Monetary Fund.

(Reporting by Stanley White; Writing by Chris Gallagher; Editing by Edmund Klamann)