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FinancialNews


  • 10-01-22

    Iran’s gov. plan to cut subsidize foreign currency trade rate

    (MENAFN) On Sunday, Iran’s Parliament approved the broad frameworks of the national budget bill for the upcoming Iranian calendar year (begins on March 21), permitting the government to reduce the funded foreign currency trade rate.

    According to IRNA, the bill was agreed on in the open session of the parliament with 174 voting in agreement, 76 votes voting against the plan, and six didn’t vote.

    Before the voting, President Ebrahim Raisi joined the parliament gathering to support his administration’s suggested budget bill and stated the government schemes to keep on supplying funded foreign currency (at 42,000 rials per US dollar) for the imports of necessary commodities in the upcoming few months, stating that the condition should be right for reducing subsidized exchange rate.

    Raisi stated, “subsidized exchange rate is the main concern of the government and [we] will continue [providing] it in the next few months until the conditions are ready.”

    MENAFN10012022000045013568ID1103512323

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