BAKU, Azerbaijan, December 24. Iran's
government will begin the process of removing four zeros from the
currency in the country since the next Iranian year (from March 21,
2026, through March 20, 2027), Trend reports
This became clear based on the prices shown in the budget
submitted by the Iranian government to the parliament.
Thus, the Iranian government has shown revenues and expenses by
removing four zeros from all amounts shown in the state budget for
the next year.
On this basis, if $1 is 746.437 rials according to the exchange
rate provided by the CBI, then $1 will be 74.6 rials with this
indicator in the next Iranian year. This may happen if the value of
the currency in Iran won't significantly decrease during the coming
months.
On November 22, President of Iran Masoud Pezeshkian signed a
decree on the implementation of the law of the Central Bank of Iran
(CBI) on the denomination of the currency (deletion of four zeros
from the national currency), adopted by the Iranian Parliament on
November 2 and approved by the Iranian Guardian Council on November
5.
The law on the denomination of the currency in the CBI code
notes that the current 10,000 rials will be equal to one rial and
100 girans.
Since it's in parallel during the transition period, the Iranian
currency will be called "rial" and "current rial". The process will
continue in this form for a maximum of three years. The process of
collecting banknotes and coins will be carried out. After the end
of the mentioned three years, the Iranian currency will bear the
name "rial".
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