Iranian Lawmakers Criticize Central Bank Policy Allocating $10,000 Foreign Exchange Quota

Iranian parliamentarians have intensified their scrutiny of the Central Bank of Iran over a controversial policy that allows citizens aged 18 and older to purchase up to $10,000 in foreign currency. The backlash surfaced in formal parliamentary sessions, where lawmakers argued that dispensing scarce hard currency at subsidized or preferential rates encourages speculation rather than serving essential economic needs.

The public dispute began on Sunday with a formal warning by MP Mehdi Kouchakzadeh and gathered momentum on Tuesday as multiple legislators joined the pushback. Critics in the Majlis contended that the generous allowance drains vital foreign exchange reserves during a period of intense currency devaluation, while CBI Governor Mohammad Reza Farzin defended the institution's monetary measures as necessary stabilizing interventions.

Iran's foreign exchange landscape has remained volatile amid sweeping international sanctions and persistent domestic inflation, prompting authorities to regularly revise retail currency distribution channels. The Central Bank has consistently maintained that meeting retail demand through official banking windows curtails parallel black-market premiums and mitigates illicit trading networks across major metropolitan centers.

Parliamentary economic committees are now preparing to summon central bank leadership to demand formal revisions to the allocation thresholds. If legislative pressure forces an operational shift, Iran's monetary regulators may lower the per-capita foreign currency ceiling or tie disbursements strictly to documented travel, educational, or commercial expenditures.