Baku, Azerbaijan, Sept. 18
By Fatih Karimov - Trend: Iran will set the dollar exchange rate at 31,000 rials in the national budget bill for the next Iranian fiscal year (March 21, 2016-March 20, 2017).
Based on a timetable, the budget bill will be submitted to the parliament in the 11th fiscal month of Bahman (January 21-February 20, 2016), an informed source told the Fars news agency Sept. 18.
MPs will have 45 days to ratify the budget bill, the source said, rejecting rumors that the dollar rate has been increased in order to raise revenues.
Mohammad Baqer Nobakht, the Iranian government spokesman, said on Sept. 16 that the bill sees the inflation rate and economic growth of the country in the next Iranian calendar year (starting from March 21) at 10-11 percent and 4.1 percent, respectively. In the draft budget bill, average oil prices have been projected at $42 to $50 per barrel.
U.S. dollar was sold in Iran's free market at 34,550 rials on Sept. 16, while the official rate announced by the Central Bank of Iran was 29,955 rials.
The dollar was set at 28,500 rials in the budget bill for the current Iranian fiscal year.
Edited by CN