UP

Iran plans to drop four zeros from Rial

Home page World
12 Punto 14 Punto 16 Punto 18 Punto

In an attempt to manage its severe currency crisis, the Iranian government plans to remove four zeros from the national currency, the Rial. The decision, approved by the parliament's economic committee on Sunday, aims to simplify financial transactions, with 10,000 old rials equaling 1 new rial after the reform.

Axar.az reports that while the currency will keep the name "Rial", the change still requires approval from parliament and the powerful Guardian Council before implementation.

The idea was first proposed in 2019, but only now has it gained legislative traction.

Iran continues to struggle with massive inflation, a collapsing currency, and international sanctions. As of Sunday, the black-market rate for 1 US dollar was approximately 920,000 rials.

Date
2025.08.04 / 13:53
Author
Axar.az
See also

Norway signs £10bn anti-submarine warship deal with UK

UK Embassy in Cairo closes main building

Bulgaria has provided one-third of Ukraine's weapons

WFP says Yemen’s Houthis detained agency employee

Wildfire breaks out in Armenia

Armenia and Pakistan established diplomatic relations

Hungary will keep blocking Ukraine’s EU membership talks

Yemen’s Houthis vow vengeance after PM killed by Israel

Kremlin says Europe is hindering Trump’s peace efforts

Ukraine plans new strikes deep into Russia

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla