Iranian MP: Government must Provide the Needed Foreign Currencies to People

Iranian MP Government must Provide the Needed Foreign Currencies for People

The member of Iran’s Majlis Commission on Mines and Industries, Mohammad Reza Fooladi, criticized the government for not providing the necessary foreign currencies to ordinary people.

“The government must be able to meet the public demand of foreign currencies and reduce the current gap between the official and unofficial exchange rates. There is high demand for foreign currencies in markets but government is unable to supply the enough currencies for people.” said Mohammad Reza Fooladi, the member of Iran’s parliament.

“Iranian government must not restrict the distribution of foreign currencies in markets. If government fails to do this, we will not have a unified price in foreign exchange markets.” Mohammad Reza Fooladi added.

The IRR/USD exchange rate in the new Forex center opened by Central Bank of Iran is two thirds of its real price in free markets. However the authorities of CBI and government deny the unofficial rates in free markets set by third party dealer. Recently the judiciary system of Iran arrested several traders and accused them of ‘disturbing foreign exchange markets’ in the country. Mahmoud Ahmadinejad’s government points dealers in ‘black markets’ as the main reason of currency crisis in Iran and denied the effects of U.S. led sanctions.

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