Iranian parliament abolish exchange of dollar under official exchange rate

By Trend

The Iranian parliament abolished the exchange of dollars under the official exchange rate (where $1 equals 42,000 rials) for the next Iranian year's budget (March 21, 2022, through March 20, 2023) on March 6, 2022, Trend reports citing the parliament’s official website.

Reportedly, the official exchange rate in Iran has been used for imports of a number of essential goods, including wheat, barley, various cooking oils, corn, medicines, etc.

The bill, which was put into a vote in the Iranian parliament, received 194 votes in favor, 42 against and 6 abstentions.

According to the bill, in return for the abolition of the exchange of dollars under the official exchange rate, the Iranian government must provide the funds via other ways to protect the welfare of consumers. And thus, consumers will receive e-coupons.

In addition, consumers will be able to purchase the essential goods at prices set in the 6th month of the current Iranian year (August 23 through September 22, 2021).