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Iran: Idea of Lopping Off Zeroes From Rial Reemerges

Iran: Idea of Lopping Off Zeroes From Rial Reemerges Iran: Idea of Lopping Off Zeroes From Rial Reemerges

Governor of the Central Bank of Iran Abdolnaser Hemmati said Sunday the regulator has proposed to the government lopping off four zeros from the rial.
In a meeting with a group of lawmakers, Hemmati said if endorsed by the government the proposal will be sent to the parliament to become law. 
Head of the Majlis Economic Commission said the decision to drop four zeros from national currency is on the parliament agenda and studies about the CBI proposition are underway.  
Mohammad Reza Pour-Ebrahimi said it was proposed initially to lop one zero off the rial but as dropping zeros incur high costs, dropping four zeros instead of one seemed more reasonable.

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