IRAN'S NEW BANKNOTE WITH LIGHT-COLOR ZEROES

The Central Bank of Iran circulated a new 100,000-rial banknote with four zeroes having a light color signifying the CBI's plan to remove four zeros from the national currency.

According to the state-owned news agency, IRNA, the new banknote has been printed in new dimensions and with improved security features.

The CBI has said it has plans to redenominate the rial by shaving off four zeros and changing the monetary unit from the rial to the popularly used ‘toman'.

The CBI's governor Abdolnasser Hemmati has publicly defended the change. Addressing lawmakers earlier, Hemmati said, "the rial has lost its reason for being and the toman has become the norm."

Proponents of the plan argue that lopping off four zeros is necessary given the diminishing value and prestige of the devalued national currency.

To read the complete article, see:
Iran's New Banknote With 4 Light-Color Zeroes (https://financialtribune.com/articles/business-and-markets/106102/iran-s-new-banknote-with-4-light-color-zeroes)

To read the complete article, see:
Iran begins deleting zeros from its currency and a new banknote (https://search4dinar.wordpress.com/2020/11/12/iran-begins-deleting-zeros-from-its-currency-and-a-new-banknote/)

	NBS (coinbooks.org) Web