Iran wants to remove four zeros from banknotes

It is hoped that this will have a psychological effect in times of high inflation.

Abdolnaser Hemmati, the head of the Iranian central bank, has submitted a draft to the Iranian government which provides for the deletion of four zeros from the national currency Rial. The plan announced a year ago to remove only one zero from the national currency Rial and at the same time to give it back its old name "Toman", is apparently not being pursued any further by the central bank.

Currently, many Iranians expect over a million rials for a week's food shopping. After the recommended change (which the central bank hopes will be implemented "very soon"), they would only have to pay "one hundred" (as in the US or Europe).

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