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Iran to delete four zeros from it's currency

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Iran to delete four zeros from it's currency Empty Iran to delete four zeros from it's currency

Post by Dinar Droid on Mon May 04, 2020 10:42 am

After retreating, Iran agrees to delete 4 zeros from its currency



Official Iranian media reported on Monday that the Iranian parliament approved a bill allowing the government to delete four zeros from the riyal, following a sharp decline in the value of the currency due to US sanctions.

Under the project, Iran's national currency will change from one riyal to a toman, which is equal to ten thousand riyals.


The Iranian Student News Agency said, "The law to delete four zeros from the national currency was approved by lawmakers."


The bill needs approval from a panel of clerics that examines the laws before they become effective.
State television indicated that it would take two years for the Iranian Central Bank to "pave the way for the currency to be converted to Toman."


The idea of ​​deleting four zeros has been circulating since 2008, but it became more urgent after 2018, when US President Donald Trump withdrew from the 2015 nuclear agreement and reimposed sanctions, as the riyal lost more than 60 percent of its value.


According to foreign exchange sites, the Iranian currency recorded about 156,000 riyals per dollar on the informal market today. The weak currency and high inflation have sparked intermittent protests since late 2017.




https://www.ikhnews.com/index.php?page=article&id=215142

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Iran to delete four zeros from it's currency Empty Iran agrees to delete 4 zeros from its declining currency

Post by claud39 on Mon May 04, 2020 10:55 am

Iran agrees to delete 4 zeros from its declining currency




 04/05/2020





Follow-up - Mawazine News




Official Iranian media reported on Monday that the Iranian parliament approved a bill allowing the government to delete four zeros from the riyal, following a sharp devaluation of the currency due to US sanctions.


Under the project, Iran's national currency will change from one riyal to a toman, which equals ten thousand riyals.


“The law to delete four zeros from the national currency has been approved by lawmakers,” the student news agency ISNA said.



Official television said that the Iranian Central Bank will have two years to “pave the way to change the currency to the Toman.” The idea of ​​deleting four zeros in circulation since 2008, but increased urgency after 2018, when US President Donald Trump withdrew from the 2015 nuclear agreement and reimposed sanctions, as The riyal lost more than 60 percent of its value.


According to foreign exchange sites, the Iranian currency recorded about 156,000 riyals per dollar on the informal market on Monday.


Weak currency and high inflation has fueled sporadic protests since late 2017.


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Iran to delete four zeros from it's currency Empty Re: Iran to delete four zeros from it's currency

Post by Ethel Biscuit on Mon May 04, 2020 12:35 pm

Ooh! Quick! Quick! Buy Iranian currency NOW! It's going to "revalue" by 999900%! Mega profits to be made!

crazyspin

I surprised the gurus haven't got onto this.

Iran to delete four zeros from it's currency 3508649203  Iran to delete four zeros from it's currency 2322496710

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