Iran postpones currency Revaluation

[boomer113189]

1 - 13 - 2014

 

 

Iran postpones currency redenomination

Iranian central bank official says plan to knock zeroes of currency on hold

 

London, Asharq Al-Awsat—An Iranian central bank official says that Iran has once again delayed plans to revalue the Iranian riyal by eliminating some zeros from the country’s currency, although the option remains on the table.

“The issue will be included in the central bank’s serious agenda as soon as the economic situation has improved and the inflation reduced,” said Akbar Komijani, the Central Bank of Iran’s economic deputy, in an interview with the Mehr news agency published on Sunday.

He added that Iran’s central bank attaches great importance to the elimination of zeros from the currency, but it will not be considered as a priority, at least not during the next few months.

The secretary general of the central bank, Mahmoud Ahmadi, said last week that the eliminations of zeros from the country’s currency will be followed up in the second half of the next year of the Iranian calendar, which runs from October 2014 till March 2015.

Economic experts believe that the fate of plans—formed and presented during the previous government of President Ahmadinejad—to delete zeros from the Iranian currency is uncertain under the current government, in light of changes in the rial’s value.

Iran’s former economy minister Shamseddin Hosseini said in 2011 that the country was set to lop three zeros off the end of its currency, which has weakened steadily over many years, despite attempts to keep it loosely pegged to the US dollar. Iran “will remove three zeros from the national currency this year on the condition that the prerequisites [for doing so] are achieved,” the minister said.

The value of the dollar experienced a sharp decline in Iran in early 2012.

The Iranian rial currently stands at around 30,000 to the US dollar, compared to 10,000 two years ago.

 

http://goo.gl/tbjRAX

 

 

[dontlop]

Wow how could this be

It just isn't true

It's not true

More okie reletives in Iran

No it can't be

Say it isn't so

[fib1618]

They postponed it, eh?

Sounds familiar.

[boomer113189]

They postponed it, eh?

Sounds familiar.

hay fib no country ever tells there people what they are going to do before they do it LOL

[Lopster_Stew]

I think they're postponing in hopes that speculators around the world will start buying their soon to be redenominated currency by the billions in hopes of a 100,000% RV.

 

Can you imagine such insane nonsense?

Oh wait!

[boomer113189]

LOL

[boomer113189]

well  dontlop  and fig i got a  confession i lied i told you both i was going to get 40 oz of silver yesterday but some how i ended up at the bar playing keno and lost alot of money

[Zigs]

Interesting.....but wait Iran doesn't mention distributing "new" currency after they lop it.

[Lopster_Stew]

Interesting.....but wait Iran doesn't mention distributing "new" currency after they lop it.

Can you explain for me a little more what you are claiming?

[fib1618]

I think they're postponing in hopes that speculators around the world will start buying their soon to be redenominated currency by the billions in hopes of a 100,000% RV.

Can you imagine such insane nonsense?

Oh wait!

Lmao!!!

hay fib no country ever tells there people what they are going to do before they do it LOL

LOL!!

Can you explain for me a little more what you are claiming?

I'm curious too.

[Zigs]

When Iraq prints articles of deletion of zero's they go through the whole process, and part of the process is mentioning distribution of a new currency to replace the old currency.  In this article Iran does not mention issuing new currency for old, just that they are putting the project on hold to delete zero's.  Just found it interesting is all.  

[caz1104]

"insane nonsense".......................still each of you invested? So much for LOPsters perceived higher intelligence..............you guys are priceless & classless! LMAO.

 

 

"FOR THOSE ABOUT TO RD/LOP WE SALUTE YOU"!!!!!!!!

GO RD with NO/MIN GAIN!!!!

[fib1618]

When Iraq prints articles of deletion of zero's they go through the whole process, and part of the process is mentioning distribution of a new currency to replace the old currency. In this article Iran does not mention issuing new currency for old, just that they are putting the project on hold to delete zero's. Just found it interesting is all.

Come on zigs.. You're smarter than this bro.

[Zigs]

Come on zigs.. You're smarter than this bro.

Just thought it was odd.

[Lopster_Stew]

All redenominations (deletions of zeros) involve issuing a new currency. It's just a standard part of the process. So I don't think them not specifically mentioning the new currency means anything.

 

Nice dog... I have an Aussie Border Collie mix.

[Darin]

well dontlop and fig i got a confession i lied i told you both i was going to get 40 oz of silver yesterday but some how i ended up at the bar playing keno and lost alot of money

Are you not going to sit outside the bar and warn every customer that comes in not to play Keno as a public service so they do not lose their money?

[Zigs]

All redenominations (deletions of zeros) involve issuing a new currency. It's just a standard part of the process. So I don't think them not specifically mentioning the new currency means anything.

 

Nice dog... I have an Aussie Border Collie mix.

Actually I have a mini aussie, the picture is not him, but my aussie is every bit as gorgeous.  A blue merle.  

 

It probably doesn't, I just found it odd.