Nobakht: Shifting in national currency serves to facilitate exchanges

EghtesadOnline: Vice President and Head of Planning and Budget Organization Mohammad Baqer Nobakht said that shifting Iran's national currency from rial to toman serves the objective of facilitating economic and trade exchanges.

News ID: ۷۳۸۵۳۲

10 December 2016

The Iranian government, in a session on December 7 approved parts of a bill proposed by Central Bank of Iran (CBI) to replace rial with the denomination of toman equivalent to 10 rials, IRNA reported.

If approved by the Iranian Parliament (Majlis), the change will empower Iran's currency.

Devaluation of the national currency brought up the US dollar to 30,000 rials when the eight-year term of the former Iranian government came to an end in 2013.