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Lawmakers argue during an impeachment process at the Iranian Parliament in Tehran, Iran, Aug. 26, 2018. Iranian lawmakers on Sunday impeached minister of economic affairs and finance over his mismanagement of the current economic situation, official IRNA news agency reported. The former minister Massoud Karbasian lost vote of confidence in the parliament, with 137 out of 260 votes in favor of his impeachment. (Xinhua/Ahmad Halabisaz)

TEHRAN, Aug. 26 (Xinhua) -- Iranian lawmakers on Sunday impeached minister of economic affairs and finance over his mismanagement of the current economic situation, official IRNA news agency reported.

The former minister Massoud Karbasian lost vote of confidence in the parliament, with 137 out of 260 votes in favor of his impeachment.

Iranian President Hassan Rouhani will answer questions over the performance of his administration to the parliament on Aug. 29.

The Iranian lawmakers complain that the government's mismanagement has resulted in price hikes and diminishing purchasing power.

The Iranian rial plunged to a record low against the U.S. dollar this month, causing growing demand for dollar among ordinary Iranians, who fear shrinking of their assets and growing price of goods.

Foreign currency values began to rise in Iran after the United States withdrew from the 2015 Iranian nuclear deal in May and announced a fresh wave of sanctions against the Islamic republic.

However, Iran's Supreme Leader Ayatollah Ali Khamenei recently blamed economic problems more on internal mismanagement than the U.S. sanctions.?