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Iran is moving to delete 4 zeros from its currency to face economic sanctions

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Iran is moving to delete 4 zeros from its currency to face economic sanctions Empty Iran is moving to delete 4 zeros from its currency to face economic sanctions

Post by claud39 on Fri Jan 25, 2019 7:59 am


Iran is moving to delete 4 zeros from its currency to face economic sanctions

Iran is moving to delete 4 zeros from its currency to face economic sanctions Doc-P-188868-636840240953673594

Follow - up / Tomorrow Press: 

Iran is trying to confront the US and Western sanctions imposed on it through amendments and changes in its financial system by deleting numbers from its currency to strengthen in the domestic markets. 

The head of the Central Bank of Iran Abdul Nasser Hamati, recently announced that the process of deleting four zeroes from the local currency will not be easy and it will take two full years until the new currency is distributed instead of the old currencies.

He pointed to the recent inflation in Iran, which lost the financial system more than half the value of the local currency, and said that "the price of metal coins more than the financial value as the cost of printing paper currency 500 Toman up to 400 Tuman."
The central bank of Iran in 2017 to delete zero one, but this time, the recommendations of banking talk about the deletion of 4 zeros, which may take two years to implement. 

If the government agrees to delete the zeros from its currency, one million riyals will equal 100 riyals. 

Iran's currency has fallen against the dollar in the past two years, as the economic situation worsens and inflation rises by about 30 percent, making the greenback up 221 percent against the Iranian ryal.


The exchange rate of the dollar is 110 thousand Iranian riyals compared to the exchange rate of 2017 of 34 thousand riyals to the dollar.
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