Iranian MP warns people about converting their capital into US dollars

Finance Materials 6 March 2019 09:40 (UTC +04:00)

Tehran, Iran, March 6


The currency fluctuations in Iran raise the risk of investing in foreign currency.

Member of Iran's parliament Huseinali Haji-Deligani spoke about the currency-related mismanagement in the country.

"At some point, we interfered and the foreign currency rate fell from 190,000 rials to 90,000 rials," he told Trend.

"I don't think we will have more fluctuations in exchange rates, but of course, this depends on management," he added.

Haji-Deligani further said that some of the fluctuations are natural, admitting that some currency-related management policies are sometimes weak.

"Of course, some of the currency-related problems originate from outside the country," he said.

"Most of the foreign currency issues in the country are solvable, which of course, require will in some cases," said the MP.

"I believe people should buy currencies as much as they really need and avoid transferring their savings to US dollars," he said. “Of course, the parliament is trying to manage the currency price fluctuations in the form of a plan.”