Iranian lawmakers review new forex package, economic problems

IRNA – Members of Iran’s Majlis (Parliament) behind the closed doors on Sunday reviewed the country’s recent economic problems and the new foreign exchange package proposed by the Central Bank of Iran (CBI).

A report on the economic situation and the instability in the forex market in the country was also presented to the MPs by Majlis Speaker Ali Larijani, vice-chairman of Parliament’s Culture Commission Fatemeh Zolqadr told Islamic Republic News Agency (IRNA).

At today’s session, the Iranian parliamentarians also discussed ways to sell Iran’s oil with regard to future situation, she added.

On Saturday (August 4), Minister of Industry, Mine and Trade Mohammad Shariatmadari said that the government has taken decisions to restore stability to the foreign exchange market.

After Washington’s May 8 exit from the landmark Iran Deal formally known as the Joint Comprehensive Plan of Action (JCPOA), the US gave 90 to 180 wind-down period to other countries before it starts re-imposing sanctions on Tehran on November 4.