HomeCurrency Updates

Iran Plans to Remove 4 Zeros from Currency.

The Central Bank of Iran said its governor Abdonnaser Hemmati offered a bill to slash the four zeroes from the Iranian currency, Rial on Sunday. The administration will make the final decision on removing the zeroes. The Central Bank is given full control over the foreign currency market and to maintain the balance of currency rates and with regard to market factors. The ban on the activity of money exchange markets was lifted by Hemmati revealing a new package of foreign currency trade in August 2018. Iranian President Hassan Rouhani had approved the Central Bank to change the National Currency from Rial to Toman, in December 2016 which resulted in a ten-fold decrease in banknote denomination. Iran used Toman as the unofficial unit of money whereas Rial and Dinar have been the country’s formal currency and non-decimal currency.

Get the latest Banknotes news and updates with our free iOS and Android app. Download Now!

Like Tweet Pin it Share Share Email

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *