The Guardian Council of the Constitution of Iran has approved the plan to adjust the denomination of the Iranian currency. Through currency reform, the last four zeros of the denomination of the Iranian currency will be removed.
The Islamic Republic News Agency of Iran reported last Saturday (November 8th) that this adjustment will be gradually completed over the next five years.
An official from the Central Bank of Iran said that this denomination adjustment is more of a structural and symbolic reform and will not change the actual value of the currency.
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