- Posted June 22, 2012 by
- Mouloud Aounit, honorary MRAP chairman and friend of Ashraf residents, passed away
- Prominent Shiite clerics in Lebanon call on all Shiites to support Syrian revolution
- Catastrophic quake in NW Iran; mullahs covering up widespread proportions of casualties and destruction
- Iraqi government prevents burial of corpses of three residents of Ashraf and Liberty
- At least 14 of Iranian regime elements arrested in Syria are senior IRGC commanders
Iran’s Central Bank is failing to stabilize rial, Shargh reports
Iran’s central bank needs a long- term policy to stabilize the domestic foreign-currency market, Shargh reported, citing Omid Karimian, a member of the parliament’s economic committee.
Recent fluctuations in the value of the dollar to Iran’s rial “are a testimony to the lack of solidity of our economy,” Karimian said, according to the Tehran-based newspaper. Variations show the “failure” of the central bank’s policy, he said, adding that the bank’s role mustn’t be only to inject dollars into the economy.
The dollar was sold for 18,300 rials on the open market yesterday, up 270 rials from the day before, according to the report. Though the central bank fixed the official exchange rate at 12,260 rials per dollar in an effort to stabilize the national currency, it hasn’t been able to enforce it as the sole rate or manage the gap between the official and the open-market rates, Shargh said.