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Iran is going through a major reform: the national currency, the rial, will lose four zeros
Today, 15:51
The Iranian parliament has approved a law on denominations, according to Iran International. The bill will equate 10,000 rials to one rial. A new currency unit, the qeran or geran, will also be introduced, which will be equal to one hundredth of a rial.
After the reform is launched, a three-year transition period is planned, during which the principle of dual circulation will be in effect: both the old and new rials will be accepted for use.
