TEHRAN — Iran's cabinet on Sunday added a clause to the annual budget implementation guidelines to restart a preferential exchange rate for imports of essentials including wheat, medicines, medical equipment and baby formula. The government plans to allocate up to $3.5 billion from oil and gas proceeds to a network of trustees to import essential goods.

Imports of essential goods will use an official exchange rate of 285,000 rials per US dollar, according to state media, compared with a budget rate of 1.23 million rials and an open-market rate of 1.55 million rials. In late December, the government had proposed a budget that sought to eliminate the cheapest currency rate.

The measures form part of a broader government effort to ensure the availability of food and medicines following weeks of US-Israeli attacks and a subsequent ceasefire with the United States. The U.S. has blockaded Iranian ports and bombed Iran's oil and gas facilities.

"The price of essential goods has been affected by the elimination of the cheap currency rate," said Yaghoub Andayesh, deputy at the Ministry of Cooperatives, Labour and Social Welfare. Andayesh said 11 categories of essential goods have experienced large price increases over recent months. The government is evaluating increasing monthly handouts and electronic coupons to Iranians to partially offset high food inflation, with each person currently eligible for monthly handouts equivalent to less than $10.

Iranian authorities are also tapping the National Development Fund of Iran to buy essential goods. State media reported that up to $1 billion will be taken from the fund to procure sugar, rice, barley, corn, soybean meal, red meat and chicken to complement strategic reserves. Authorities have stated that the country has sufficient currency and gold reserves and have redirected some oil sales conducted to circumvent US sanctions to the National Development Fund.

The government has increased the executive power of governors of border provinces to boost imports of essential goods with less red tape. "Governors will have to display initiative and creativity to match additional needs during the war," Pezeshkian said in remarks to state media.

In Tehran, markets, cafes and shops have reopened, and some highways have resumed busy traffic. Some residents have begun stockpiling canned goods and storing water, while others are cancelling trips, stopping restaurant visits and reducing online food orders to cut expenses.