The Numismatic Bibliomania Society

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V19 2016 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 19, Number 50, December 11, 2016, Article 33

IRAN MAY CHANGE ITS CURRENCY

Pabitra Saha forwarded this article about Iran's plans to make a change in its currency. Thanks. -Editor

Iran banknotes Iran's administration has proposed reintroducing the toman as the nation's official currency. It's to replace the rial, which has been around since the 1930s - but the toman has never really been dead.

Iran's news agency IRNA said Wednesday that President Hassan Rouhani's government had proposed changing the name and denomination of the country's official currency.

The report said the Cabinet approved a measure calling for a change from the rial to the toman. One toman would be worth 10 rials, meaning that a zero would de facto be removed from price figures.

A US dollar would currently buy 3,200 tomans at official exchange rates, and 3,900 tomans at unofficial rates.

It's still unclear when new coins and bank notes will be made available. The toman was already in use in the country until the 1930s.

For tourists, the proposed return of the currency could provide an advantage. Until now, the rial has caused confusion for travelers as it was the official currency used at banks and hotels, but not among locals. They've never stopped referring to tomans to calculate prices.

To read the complete article, see:
Iran: Hello toman; good-bye rial (www.dw.com/en/iran-hello-toman-good-bye-rial/a-36683085)

Fred Weinberg ad02


Wayne Homren, Editor

Google
 
NBS (coinbooks.org) Web

The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V19 2016 INDEX       E-SYLUM ARCHIVE

Copyright © 1998 - 2024 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.

NBS Home Page
Contact the NBS webmaster
coin