Parliamentary Warning to the Government about Currency Rate Increase and Decrease in the Amount of Basic Goods' Currency

The number of parliamentarians who have signed a warning letter to the 14th government about the increase in the exchange rate for basic goods' currency and its reduction in the 2024 budget has reached 102.

Hosein Samsami, a member of parliament, in a letter to the Speaker of Parliament, has warned about the increase in the exchange rate and considers the outcome of this move to be a sharp rise in inflation.

Part of the letter states: Contrary to the claims of the 14th government, the $3 billion reduction in the 28,500 tomans per dollar for basic goods’ currency, along with the increase in the exchange rate to 38,500 tomans, and for other goods, 55,000 tomans, regardless of the currency rate increase, will lead to a severe rise in inflation. The change in the valuation basis of imported goods from 28,500 tomans to 55,000 tomans (a 93% increase) will double the inflationary impact of this issue. Additionally, according to the calculations, this government policy will impose about 640 trillion tomans of cost pressure on the economy. If the single exchange rate policy is truly to be implemented, it should result in the widening of people's tables, not in reducing them.