Economy, Business And Markets

New 20,000 Rial Bill

New 20,000 Rial Bill New 20,000 Rial Bill

The Central Bank of Iran has designed a new version of the twenty thousand rial bill ($0.72 at the official exchange rate) and is planning to issue it in a few months, said Majid Saniei, head of CBI’s Currency and Coins Organization. He also said that the central bank is already prepared to meet the demand for new currency, as the New Year is approaching. The new Iranian year will begin March 21. He said the needed bills for the next year already exist in the CBI’s reserves and the treasury does not need to start printing new bills for the New Year. The official further noted that releasing sealed bullion coins is planned for the coming year.