Currency Revaluation in Iran

Lawmakers are studying a proposal by the government and the Central Bank of Iran to slash four zeros off the national currency and switch the national currency from the rial to toman.

The Majlis passed a bill Monday to change the monetary unit from rail to the popularly used ‘toman’.  As per the new law, four zeroes will be shaved off from the national currency. “Iran’s…

The Majlis Economic Commission on Wednesday approved the provisions of a monetary bill based on which four zeros will be shaved off the national currency.  As per the proposed ‘Reforming…

In a comparative study the Economic Research Department of Tehran Chamber of Commerce, Industries, Mines and Agriculture has probed the experience of currency redenomination in other countries…

President Hassan Rouhani sent the rial redenomination bill to the Majlis on Wednesday for debate.  As per the ‘Reforming Monetary and Banking Law’ bill, four zeros will be shaved off the…

Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture says lopping off zeros from the national currency will not produce the desired results unless the initiative is intertwined…

Governor of the Central Bank of Iran says lopping off four zeros from the national currency will not impose additional costs on the government regarding printing banknotes.  

The government on Wednesday approved a central bank proposal based on which four zeros will be shaved off and the national currency rial and the change from official rial to the popularly used…

The plan to remove four zeros from the rial is on the government agenda, again. The oft-mentioned move was proposed in the past by Central Bank of Iran as part of a broader plan to revisit the…

The governor of Central Bank of Iran says the initiative to remove four zeros from the national currency will take up two years because first the legal and technical infrastructure must be in…

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,…

While foreign currency rates, especially the US dollar, are gradually rising in the market, the government’s earnings from revaluation of the Central Bank of Iran’s forex resources also go up…

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…

The news last week that Iran is switching its national currency to toman was more than just a big announcement; it also polarized opinion and exposed the apparent disharmony among policymaking…

If the decision made by the Cabinet to change Iran’s monetary unit is implemented, Iranian banknotes will also undergo changes, a deputy governor of the Central Bank of Iran said.

The government has approved changing Iran’s monetary unit from rial to toman, which will lop off one zero from the current national currency rial.

The decision was made when ratifying the…

Addressing renewed calls for dropping three zeros from Iran’s national currency, Ali Tayyebnia, the economic minister, supported the move. He, however, was soon to add that the time is not…

Lawmakers will back the promotion of financial technologies and innovations, as they bolster the economy, said Majlis First Deputy Speaker Masoud Pezeshkian.

The plan to cut zeros from the Iranian national currency—the rial—has been deliberated by the Central Bank of Iran for sometime now. The policy was successfully initiated by several countries in…

Lopping zeros from the rial is not high on the agenda of the Central Bank of Iran or the Money and Credit Council (MCC), a lawmaker said in an interview with ISNA.

Central Bank Governor Valiollah Seif said on Saturday that the bank will by no means intervene in the currency market even if the dollar or other foreign currencies may start losing value against…