Iran slashes zeros off national currency to curb economic freefall

Iran slashes zeros off national currency to curb economic freefall

By Jewish Breaking News Iran’s parliament has voted to lop four zeros off the country’s national currency after years of devastating inflation and sanctions left the rial worth less than a penny. Lawmakers passed the measure Sunday with 144 votes in favor, 108 against, and three abstentions out of 262 present. Under the legislation, the rial will be redefined as equal to 10,000 current rials and will introduce a new subunit called the qiran or g…

Iran slashes zeros off currency in attempt to curb economic crash

Iran’s parliament has voted to lop four zeros off the country’s national currency after years of devastating inflation and sanctions left the rial worth less than a penny Lawmakers passed the measure with 144 votes in favor, 108 against, and three abstentions out of 262 present. Under the legislation, the rial will be redefined as equal to 10,000 current rials and will introduce a new subunit called the qiran or gheran, worth one hundredth of a …

Iranian parliament approves plan to cut four zeros from rial

Iran has approved a monetary reform plan to remove four zeros from its local currency over the coming years. The measure is intended to simplify transactions after years of high inflation. According to Reuters, the currency tracking website Bonbast.com shows that inflation above 35% has pushed the rial…