Stop Fundamentalism –Iranian Parliamentarians expressed concern about the falling value of Rial, Iran’s Currency, yesterday and blamed the crisis on Ahmadinejad’s government. The members also criticized the Iranian parliament for inaction about the situation.
The Members of the Iranian Parliament called for a special session to discuss the matter urgently.
Iranian Rial for the past few weeks has taken a sharp nosedive and stays as low as half its value from two months ago. Observers consider the crisis as a result of international sanction against Iran’s effort to acquire nuclear weapons.
Before the crisis began, Dollar was sold in Iran’s currency exchange market at prices below 10,000 Rials. That was a value the Iranian regime had made a lot of efforts to keep for many years.
But the downfall accelerated to a new speed during the past few days since President Obama signed the new sanctions bill sent to him by the US Congress imposing restrictions internationally on dealing with Iran’s Central Bank.
Currently Dollar stays at prices above 17,250 Rials in the market but it is expected to jump higher to at least 22,000 Rials in the near future.
Just this week, following the Central Bank Sanctions signed into law by the President, European’s have agreed in principle to ban Iranian oil. That is yet another big blow that should show its effects on Rial shortly.
Iran’s oil export makes up for over 80 percent of its income.
“The currency exchange market is an important measuring tool to assess the economic conditions of the country,” said the Parliamentarians, “The situation is critical.”