By Ebrahim Fallahi

Majlis decides to unify forex rates; is it a good thing?

TEHRAN - The budget review committee of the Iranian Parliament (Majlis) has recently voted in favor of changing the foreign currency exchange rate for the import of essential goods from 42,000 rials to 175,000 rials per dollar, suggesting that the prices of essential imports should be set in accordance with the exchange rate prevailing in the Forex Management Integrated System (locally known as NIMA).