The Iranian parliament approves the deletion of four zeros from the national currency.
The Iranian parliament approves the deletion of four zeros from the national currency.
2025-10-05
Iranian lawmakers voted Sunday on a bill to amend the country’s monetary and banking law, approving the removal of four zeros from the national currency. The bill stipulates that every 10,000 Iranian rials will be converted into one new rial, while retaining the name “rial” as the country’s official currency. The move aims to simplify financial transactions and mitigate the effects of the severe inflation that Iran has been suffering from for years.
It is worth noting that the zero-deletion law also requires the approval of the Guardian Council before it can enter into force.
This move comes after years of inflation and the depreciation of the riyal against foreign currencies due to economic sanctions. One US dollar is now worth more than 900,000 riyals on the parallel market, prompting authorities to take reform measures to address monetary distortions and simplify financial procedures.
burathanews.com
