IRAN’S PARLIAMENT APPROVES CHANGE OF CURRENCY NAME AND NUMBERS

Highlights:

• Rial has lost much of its value against the dollar.
• Rial will be replaced by the Toman.
• Each toman will be worth 10,000 rials under the new system.

The Iranian Parliament has approved its long debate which is to reform its country’s currency rial. The currency was reformed by removing four units from its monetary unit. The name of the currency has also....