Iranian Parliament Approves Probe Of Central Bank


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Iranian Parliament has passed a motion to investigate the actions of the Central Bank in connection with its management of the foreign currency market and the devaluation of the national currency.

The Khaneh Mellat website reports that the probe passed in Parliament 171 to 36 with 21 MPs abstaining.

The head of the Central Bank is appointed by the Prime Minister, and there is no provision for Parliament to summon the head of Central Bank for questioning.

Iran

Iran

Members of Parliament have made it clear that recent questioning of the Minister of Economy and the President has yielded no convincing explanations for the fluctuations in the currency market.

Some MPs have accused the administration of deliberately keeping the market in flux in order to remedy its budget shortages.

According to Mehr News, the head of the Central Bank, Mahmoud Bahmani, has put in a request to retire from his position.

The national currency, which was traded at 9,920 rials for a dollar in 2009, is now being traded at 35,000 rials for a dollar.


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