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 IRAN RIAL: Iran plans to revalue, rename rial currency, 8 JUNE

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cg123
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PostSubject: IRAN RIAL: Iran plans to revalue, rename rial currency, 8 JUNE   Thu Jun 08, 2017 5:27 pm

Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approved on Wednesday by President Hassan Rouhani's cabinet, theofficial Islamic Republic News Agency (IRNA) said.
The currency was called the toman until the 1930s and most Iranians still refer to it by that name.
Under the measure, which requires approval from parliament and the Guardian Council before taking effect, the renamed currency would be worth around 3,200 to the dollar at officialexchange rates and 3,900 at unofficial rates.
The Council, made up of six clerics appointed by the Supreme Leader and six lawyers elected by parliament, vets all new legislation for compliance with religious laws and the constitution.
read more: 
http://dinaresgurus.blogspot.com/2017/06/iran-plans-to-revalue-rename-rial.html
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ReapAndSow73
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PostSubject: Re: IRAN RIAL: Iran plans to revalue, rename rial currency, 8 JUNE   Thu Jun 08, 2017 7:14 pm

Rial-ity bites for anyone, 'investing' in Rial
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Mmulcahy
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PostSubject: Re: IRAN RIAL: Iran plans to revalue, rename rial currency, 8 JUNE   Fri Jun 09, 2017 1:00 pm

Isn't this good for rial? if it's a straight up revaluation then you just made 10 times your money. no mention of redenomination.
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