It seems that fluctuations plaguing Iran's foreign exchange market over the past six month following the imposition of new EU and US sanctions against Tehran have yet failed to cause protests among the majority of Iranian people.

The value of Iranian currency, Rial, has gradually decreased after EU and the US imposed new round of unilateral sanctions against the Islamic Republic. The currency hit record low on Monday with 25,650 rials now needed to purchase one dollar. Although it became more stable on Tuesday at 25,470 rials to a dollar.

The steep drop in Rial’s value has raised inflation as the price of essential goods, like food, and services are increasing on a daily basis and the import of some foreign goods has been suspended due to market fluctuations and lack of foreign exchange reserves.

The government of Iran's President Mahmoud Ahmadinejad, however, has failed to take action and intervene to restore stability to the market. The government’s inaction has attracted a lot of criticism. Several Iranian lawmakers and officials accused the government and Central Bank of mismanaging the crisis.

Iranian lawmaker Gholam-Reza Assadollahi said on Monday that the effect of sanctions, although somehow responsible for the current situation, was not enough to cause such inflation and fluctuation in the market.

Iranian lawmaker Ahmad Tavakoli said on Tuesday that the government does not distribute foreign currencies on purpose, calling on Iran's parliament (Majlis) to hold a session to address the issue.

On Tuesday, Iran's Majlis held a meeting with the presence of Economy Minister Shamseddin Hosseini, head of Iran's Central Bank Mahmoud Bahmani and the chairmen of a number of Majlis committees to address the issue. During the meeting lawmakers urged the government to take action and distribute hard currency in the market to prevent Rial from losing more of its value.

However, despite the high inflation and hardships that Iranian people have experienced during the past year, with essential and imported goods becoming more and more expensive, there has been no popular protest at the situation.