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Iranian MPs seeking to question Ahmadinejad over forex market turmoil

7 Oct 2012 - 14:36

By Trend

Members of the Iranian parliament (Majlis) have put in a request to summon President Mahmoud Ahmadinejad to explain about incidents which occurred last week in Iran's foreign exchange free market, the Mehr News Agency reported.

So far, 93 MPs have undersigned the request, an MP said on the condition of anonymity.

There is a possibility to submit the request to the Majlis presiding board of Wednesday, the MP added.

On Wednesday, a number of people held a demonstration near the Grand Bazaar of Tehran, using the sharp fall in the value of the Iranian rial as a pretext.

According to reports, businessmen are unhappy about the performance of the administration in regulating the foreign exchange market, saying it has caused instability in prices.

The USD rate in Iran increased from 13, 000 rials in the beginning of 2012 to 25, 000 in mid September, but suddenly rose to 36,000 during a week on Iran's open market in late September. Tehran's major market, Bazaar, has been closed since Wednesday and re-opened on Saturday.


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