Iran is undergoing historic changes in its currency system. The Iranian parliament has passed a bill that will bring a significant change to its currency. Iran is preparing to remove four zeros from its currency. This means that the old rial worth 10,000 will now be equivalent to a new rial. This move is aimed at strengthening the Iranian currency and streamlining its value in the market. Following Turkey’s example from a few years ago, Iran is now on a path towards strengthening its currency system.
Iran Currency Reform: Historic Changes in the Iranian Currency System
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