KURDPA: Iranian Parliament is reviewing a plan to stop providing foreign currency to travellers at the official bank
rate, the Mehr News Agency reports.
While the official exchange rate for Dollar is set at 12,260 rials by Iran's Central
Bank, the open market rate is hovering around 19,000 rials.
Arsalan Fathi Pour, the head of Parliament's Economic Commission, told Mehr that
stopping the sale of foreign currency to travellers will be considered as part of "Parliament's economic package to improve the economic situation
of the country."
He said, however, that the package was still a work in progress.
According to statistics offered by the head of
Parliament's Economic Commission, Iran's economy loses $10 billion each year because travellers take it out of the country "and that has no
Iranians leaving the country by air are allowed to take up to $1,000 with them, acquired at the official bank rate of
The rial has recently been in free fall against foreign currencies and, according to the latest exchange rates, it is being
traded at 19,120 rials to the dollar on the open market.
The head of Parliament's Economic Commission said providing foreign currency at bank
rates must be stopped, and travellers need to get the funds for their trip on the open market.