Guardian Council, historical plan Removing four zeros from the national currency confirmed This decision, after years of discussions, is an importa turning poi for organizing the monetary and financial system of the coury.
According to the latest domestic news, the organization of the coury’s monetary system has now eered a new implemeation phase. The purpose of these fundameal changes, beyond the elimination of zeros, is to increase the efficiency and purchasing power of the national currency, simplify exchanges and reduce costs. These long-term reforms promise economic stability, financial facilitation and greater transparency. The success of the plan will also require macro policies to corol inflation and maiain the value of the currency.
Change of national currency: details of removal of four zeros
The Guardian Council approved the coury’s monetary and banking organization plan considering public ierests. This importa resolution, after resolving the objections and ambiguities raised in the Islamic Council, has now taken on a legal aspect. According to this plan, the national currency will be changed from Rial to Toman, where each Toman will be equal to 10 thousand Rials. This change is a big step towards simplifying financial calculations and eliminating the confusion caused by the large number of zeros. The governme is obliged to provide all necessary preparations and infrastructure for the transfer process of at least two years.
This two-to-three-year transition period provides the possibility of public education, adaptation of banking and accouing systems, as well as the gradual collection of old banknotes so that this change is associated with the least disruption and maximum public satisfaction. During this period, the ceral bank will play a ceral role in informing and managing the transition process.
