Iran prepares a record denomination

12:53 - 7.01.2019


January 7, Fineko/abc.az. The Central Bank of Iran (CBI) has submitted to the Cabinet Ministers a draft law on the denomination of the national currency - the rial.

The Iranian media report that in its turn, the government submitted to the parliament a bill on the denomination of the national currency.

After the innovations the "new" rial will be equal to 10,000 "old" rials, while currently the price of one dollar is equal to about 10,000 rials.

About a year ago, the Iranian government planned to conduct denomination and change the name of the national currency from "rial" to "toman". At the same time, a year ago, 1 toman was supposed to cost 10 rials.

 

Other news