BAKU, Azerbaijan, February 1. The Central Bank
of Iran will issue 5 million rials (about $4.38) worth of checks
starting today, Trend
reports via the Central Bank of Iran.
According to the information, this check was issued to
accelerate cash purchases and sales and simplify cash
circulation.
The Central Bank states that this step guarantees a suitable
alternative and new currency policy for small-value checks and will
not create any change in the amount of liquidity in the
country.
The process of removing 4 zeros from the currency (Rial) in Iran
is expected to begin on March 21, 2026.
On November 22, 2025, Iranian President Masoud Pezeshkian signed
a decree implementing the law on currency redenomination (removal
of four zeros from the national currency), which was adopted by the
Iranian Parliament on November 2 and approved by the Guardian
Council of the Constitution on November 5.
Additionally, the law on the Central Bank of Iran’s regulations
regarding currency redenomination stipulates that the current
10,000 rials will be equivalent to 1 rial and 100 qerans.
During the transition period, both units will circulate in
parallel, and the Iranian currency will be referred to as both
“rial” and “current rial.” This process will continue in this
manner for a maximum of three years. The collection of banknotes
and coins will take place during this period. After the three-year
transition period, the Iranian currency will officially carry the
name “rial.”
