Dollar rate in Iran’s next year budget bill determined
Baku, Azerbaijan, Dec. 21
By Fatih Karimov- Trend:
Iran will set the dollar exchange rate at 29,970 rials in the national budget bill for the next Iranian fiscal year (March 21, 2016-March 20, 2017), an informed source said.
The government has set the aforementioned rate for US dollar in its Dec. 20 meeting, the source said, Iran's official IRNA news agency reported Dec. 21.
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).
MPs will have 45 days to ratify the budget bill.
Mohammad Baqer Nobakht, the Iranian government spokesman, earlier said that the bill sees the inflation rate and economic growth of the country in the next Iranian fiscal year at 10-11 percent and 4.1 percent, respectively.
U.S. dollar was sold in Iran's free market at 36,410 rials on Dec. 20, while the official rate announced by the Central Bank of Iran was 30,119 rials.
The dollar was set at 28,500 rials in the budget bill for the current Iranian fiscal year.