(MENAFN- Trend News Agency) Baku, Azerbaijan, July 31
By Elnur Baghishov - Trend:
Iran has decided to revaluate its national currency, the Iranian rial, and remove four zeros from it,Trendreports referring to IRIB.
Today, the Iranian Cabinet of Ministers approved the decision on the removal of four zeros from Iran's national currency.
The Governor of the Central Bank of Iran Abdolnaser Hemmati is expected to soon make a statement regarding the matter.
Hemmati stated earlier that the project on the removal of four zeros from the national currency had been submitted to the Cabinet of Ministers. According to the project, four zeros will be removed from the Iranian rial; as such, one toman will be equal to the current 10,000 rials and 100 new rials.
According to the official exchange rate in Iran, $1 equals 42,000 rials, and its black market price fluctuates between 119,000-122,000 rials.
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