To signify a transition to the new currency, Iran’s Central Bank has launched a new “phantom zeros” version of the most frequently-used banknote in the country.According to the Central Bank of Iran (CBI), the new design of the note signifies Iran’s ongoing move toward toman, the new currency which will be equal to 10,000 rials more

The Iranian Parliament on Monday voted for the details of a government monetary reform bill which will change the country’s currency name and drop four zeros from banknotes. Under the new law, which will come into effect after the final approval of the Guardian Council, the national currency unit will change from the rial to more

The Central Bank of Iran said its governor Abdonnaser Hemmati offered a bill to slash the four zeroes from the Iranian currency, Rial on Sunday. The administration will make the final decision on removing the zeroes. The Central Bank is given full control over the foreign currency market and to maintain the balance of currency more