Majlis Backs CBI Restrictions on Selling Foreign Currency

Lawmakers have voiced support for the Central Bank of Iran following the latter’s move to implement new restrictions on the allocation of cheaper foreign currency. 
The CBI last week implemented new measures to limit the amount of forex Iranians can buy and also raised the rates. 
Per law, every Iranian can buy a fixed amount of foreign currency at slightly lower rates compared to the open market by presenting their ID. The rule led to long lines of buyers who then sold it in the open market at higher prices to make an extra buck.
The CBI now says it has “thoroughly studied the flaws” in the former policy. It said moneychangers and banks can henceforth sell currency only up to €2,000 to each Iranian in one year, lowering the cap from €5,000 that it had announced in the not too distant past.