Parl. passes amendment bill on fighting forex smuggling

MNA – The Iranian lawmakers have passed into law an amendment bill to combat the smuggling of foreign exchange, especially the US dollar.

Of the 220 present MPs, 137 voted in favor of the bill, 43 voted against, while 8 lawmakers abstained.

Mohammadreza Pour Ebrahimi, a member of the Parliament’s Economic Commission said about the bill that the Commission had consulted and had held several meetings with different government bodies to tackle foreign exchange smuggling.

Ebrahimi said that they have joined hands with the government to combat the smuggling of foreign exchange more seriously.

He said that they are going to work on a website to govern the monetary transactions better than the past, hoping that the system will successfully resolve the currency crisis.

Iran’s national currency the Rial has recently lost more than 30 percent of its value against foreign currencies as a result of what officials cite to be the US sanctions imposed on the country’s economy as well as psychological factors.