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IRAN RIAL : Currency Revaluation a Two-Year Process, 8 JUNE
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IRAN RIAL : Currency Revaluation a Two-Year Process, 8 JUNE
by cg123 Thu Jun 08, 2017 5:29 pm
Executing currency revaluation in Iran by removing one or more zeroes from the rial will require conditions that will not materialize for at least another two years, the governor of the Central Bank of Iran said.
“We have had no directives in the Cabinet to remove a zero from the currency and that is not on our agenda,” Valiollah Seif also said in a talk with Mehr News Agency’s website.
He elaborated that CBI has sent a bill to the government, which is still under review and questioned the official use of rial known to the people as toman (minus one zero).
“Therefore, it was stated in the bill that the monetary unit be changed to toman, which is not yet definitive and must be sent to theparliament. So we have had no plan to remove one zero,” he said.
In early December, while ratifying the CBI bill during a Cabinet meeting presided over by President Hassan Rouhani, the government approved changing Iran’s monetary unit from rial to toman, which meant lopping off one zero from the current national currency.
As a result of a multitude of sanctions imposed in the past, the CBI chief said the removal of zeroes from the national currency will only be possible when the stability of the inflation rate–currently in single digit after more than two decades–becomes a sure thing.
“We have had no directives in the Cabinet to remove a zero from the currency and that is not on our agenda,” Valiollah Seif also said in a talk with Mehr News Agency’s website.
He elaborated that CBI has sent a bill to the government, which is still under review and questioned the official use of rial known to the people as toman (minus one zero).
“Therefore, it was stated in the bill that the monetary unit be changed to toman, which is not yet definitive and must be sent to theparliament. So we have had no plan to remove one zero,” he said.
In early December, while ratifying the CBI bill during a Cabinet meeting presided over by President Hassan Rouhani, the government approved changing Iran’s monetary unit from rial to toman, which meant lopping off one zero from the current national currency.
As a result of a multitude of sanctions imposed in the past, the CBI chief said the removal of zeroes from the national currency will only be possible when the stability of the inflation rate–currently in single digit after more than two decades–becomes a sure thing.
cg123- Guest
Re: IRAN RIAL : Currency Revaluation a Two-Year Process, 8 JUNE
by GypZ Fri Jun 09, 2017 8:34 am
:tup:
GypZ- VIP Member
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Join date : 2015-05-13
Iran
by Scotchie Fri Jun 09, 2017 8:56 am
Yes. Some have posted over the past few months that Iran is not near to revaluing their currency, and they were right.
Iran is considered a "terrorist" nation, and its currency is not recognized by the Untied States, along with many other countries.
Americans who have speculated on the Iranian currency are very far from seeing a positive return on the speculative investment.
It will be interesting to see if the Iranian currency revalues before the Iraqi currency. For those that do not believe the Iraqi dinar is at least two years away from a possible revaluation, you are kidding yourselves.
Best to hide away your currencies in a sock drawer, and check once or twice a year to see if it is still there.
Of course, the zim will always be worthless. Yes, the zim that is printed on bond paper. lolololol
Iran is considered a "terrorist" nation, and its currency is not recognized by the Untied States, along with many other countries.
Americans who have speculated on the Iranian currency are very far from seeing a positive return on the speculative investment.
It will be interesting to see if the Iranian currency revalues before the Iraqi currency. For those that do not believe the Iraqi dinar is at least two years away from a possible revaluation, you are kidding yourselves.
Best to hide away your currencies in a sock drawer, and check once or twice a year to see if it is still there.
Of course, the zim will always be worthless. Yes, the zim that is printed on bond paper. lolololol
Scotchie- VIP Member
- Posts : 1534
Join date : 2017-04-15
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