Iran parliament to probe c.bank over rial fall
Tehran, January 20, 2013
Iran's parliament voted 171 to 36 to investigate the country's central bank over its response to last year's currency crisis, parliamentary news agency Icana reported.
Iranian media also reported on Sunday that Mahmoud Bahmani, Iran's central bank governor, had asked to leave his post, but there was no confirmation or denial from the central bank.
The value of the Iranian rial against the US dollar has plummeted in the last year following sanctions on the central bank and a European Union embargo on Iranian oil, believed to have curtailed Tehran's hard currency earnings.
Critical legislators have accused the central bank of economic mismanagement for its handling of the currency's decline, including accusations that it did not provide the market with enough dollars to meet demand, helping to drive down the rial.
"There are many questions that need to be asked in order to uncover the truth, because the responsibility of organising the currency market is with the central bank," said Mohammad Alipour, spokesman for parliament's economic committee, according to Icana.
"One of the questions is what preventive measures this bank took to organise the market and prevent price jumps."
The investigation will also look into how the central bank manages Iran's money market, sets interest and loan facility rates, and allocates currency for imported goods, Alipour said.-Reuters
More INTERNATIONAL NEWS Stories
- Investors monitoring Pimco after internal strife
- N Korea tanker ‘leaves Libya rebel port carrying oil’
- Malaysia plane incident not terror related: Interpol
- Crimea closes air space to commercial flights
- Missing Malaysian plane last seen At Malacca Strait
- Stolen passport holder on missing plane is Iranian
- China deploys 10 satellites to search for Malaysia jet
- Libya says halts tanker outside port; rebels deny it
- Libya orders military force to 'liberate' ports
- Big bananas: Chiquita, Fyffes merge
- Radar sweeps, dozens of aircraft, but no sign of plane
- N Korea tanker loads oil at Libya rebel port
- Gold drops as US growth optimism weighs
- Merkel raps Putin; Russia tightens grip on Crimea
- World 'at sea' over missing Malaysian jetliner
- Passports requiring probe were on Malaysia flight
- 40 killed in Yemen as Houthi fighters near capital
- Vietnam finds object in sea; search on
- $5bn poll spend to boost India economy
- Libya authorises use of force against Korean tanker
- Ukraine PM says he will go to US to discuss crisis
- Syrian journalist killed covering fighting
- Malaysian jet may have turned back before vanishing
- No sign of missing plane; Malaysia probes false passports
- Two Europeans not on board 'missing' Malaysian jet
- China draws red line on North Korea
- Saudi sentences three to death for 2003 bombing
- First bitcoin machine opens in UK
- US sanctions will boomerang, warns Russia
- China plans $50bn bank to fund projects