Minister: Experts working on cutting 4 zeros off Iran’s rial

IRNA – Minister of economic affairs and finance Farhad Dejpasand said on Tuesday that experts are currently working on a proposed mechanism to slash four zeros from Iran’s national currently, rial.

Dejpasand told the Islamic Republic News Agency (IRNA) that final result of the studies made by the expert team will be announced in due time.

Central Bank of Iran (CBI) has proposed slashing four zeros from rial on January 5 and presented its proposal to the government, Dejpasand said hoping that the measure would bring desired outcome soon.

According to CBI Governor Abdolnaser Hemmati, lopping four zeros from the Iranian currency takes about two years.

Based on Hemmati’s remarks, reforming the national currency rate by removing zeros will enhance the national currency’s reputation on the international arena.