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Iran lawmakers seek answers over currency drop

Tuesday, 2 Oct 2012 | 8:45 AM ET

TEHRAN, Iran -- Iranian lawmakers have signed a petition to summon President Mahmoud Ahmadinejad to parliament for questioning over the rapid drop in the value of the country's currency.

A lawmaker, Mohammad Bayatian, says enough signatures have been collected to bring Ahmadinejad before the 290-seat chamber for the second time. His comments were posted Tuesday on the parliament's website, icana.ir.

Earlier this year, parliament members grilled Ahmadinejad over his public feud with Supreme Leader Ayatollah Ali Khamenei.

Iran's currency fell again Tuesday, hitting a record low of 34,500 rials against the U.S. dollar. It was 29,500 rials to the dollar Sunday.

The nosedive is blamed on a combination of Western sanctions and government policies, such as holding down bank interest, which prompted many people to withdraw their rials to exchange for foreign currency.