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Iran Plans to Slash Four Zeros From Currency, Donya Reports

Bloomberg – Apr 5, 2011

plans to slash four and not three zeros from the national currency, the rial, reported, citing Central Bank Governor Mahmoud Bahmani. The bank will present its proposal to the government in six months, the Tehran-based newspaper said. If the cabinet and Monetary and Credit Council approve the plan, the bank will start withdrawing notes and printing new ones, Donya reported. Iran’s Economic Affairs and Finance Minister Shamseddin Hosseini said on April 2 that the government plans to remove three zeros from the national currency this year. ...

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