A member of parliament’s labor faction in Iran says minimum monthly wage should be increased to 40 million rials, or about $400. Currently the minimum wage is about $100.
Zahra Sae’I told the parliament’s news service on February 3 that the poverty line in Tehran is about $300 monthly income and workers should earn at least $400.
According to estimates inflation in Iran was at least 35 percent in 2018 compared with the previous year, which directly impacted the purchasing power of people on fixed incomes.
Mainly due to the impact of U.S. sanction reimposed in 2018, Iran’s national currency has dropped three-fold and one U.S. dollar is currently trading above 100,000 rials.
Before the 1979 revolution in Iran the exchange rate was 70 rials to the dollar, which gradually increased to 5000, 10,000 and just a year ago the dollar traded at around 40,000 rials.
Labor union officials say that a family of four needs at least $500 a month to secure its minimum needs.
