Sunday, February 05, 2012

Mehr News (Iran): "Cabinet approves bill to cut four zeros off currency"

According to a story from last April, it was going to be three zeroes. I guess they've become more ambitious:
The cabinet has finalized a bill to slash four zeros off the national currency, rial, the vice president for planning affairs announced on Sunday.

Davood Manzoor said the bill will soon be submitted to the parliament for ratification.

Manzoor said the administration had earlier approved the general outlines of the bill which envisages removing four zeros of the currency by 2014.

In July 2011, the cabinet introduced a plan to re-denominate the rial by cutting four zeros from the currency.

Central Bank Governor Mahmoud Bahmani has said it will take about three years to implement the plan.
That would have been a zero a year according to the old plan.

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