Iranian parliament passes bill to deal with brokerage of illicit foreign currency
Azerbaijan, Baku, Feb.5 / Trend F.Mehdi/
The Iranian parliament (Majlis) approved a single urgency bill to combat unlawful brokerage of foreign currency in the market, the Mehr News Agency reported.
Of the total votes cast, 140 MPs voted in favour of the bill, 30 voted against and nine abstained.
According to the bill, the Central Bank will be obliged to set up a system for registering all foreign currency trade. Illegal brokers will be sentenced to up to 10 years in jail.
The US dollar was sold at the price of 39,000 rials at the free market on Tuesday, while the euro was presented at the price of 52,700 rials.
The euro and US dollar were traded at the prices of 52,000 and 38,000 rials on Monday.
The dollar price reached 40,000 rials in October 2012, but by inauguration of the foreign exchange centre prices fell to 27,000 rials.
Critics believe that Iranian government is not controlling the price of dollar at the free market on purpose. They claim that the government wants to take advantage of selling dollar at the free market in order to compensate its lack of budget.
The government maintains an official reference rate of 12,260 rials to the dollar, but only a limited amount of foreign exchange is available at this rate.