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Iranian Rial


VIZIOIRAQI
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3 minutes ago, lmb4321 said:

But when do you think the Rial will change in value?

The rial may show up at any time bro...when we hear an approval news from the parliament on the currency bill n the president signs it...the CBI will let us know the rate n when they will plan collecting the big notes

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Old but interesting...explains why their is confusion, well not on our part anyways!

 

No explanation was given for the long delay or for the shift from lopping off three zeros to four.

The constantly shifting policies make the regime look disordered and inept, unable to make decisions or to stick with them once they are made.

On Sunday, Central Bank Governor Mahmud Bahmani said Iran plans to slash four zeros from its national currency in “one to two years,” seeking parity with the US dollar.

But five days earlier, Bahmani said four zeros would be sliced off under a plan to be presented to the cabinet “within the next six months.” Now six months has become 12 to 24 months.

And three days before Bahmani said four zeros would go, Finance Minister Shams-eddin Hossaini said three zeros would be lopped off. And he said that would happen during the current Persian year.

In September 2009, Bah-mani announced that after long study the Central Bank had decided to recommend that three zeros be removed from the rial. In January 2010, President Ahmadi-nejad announced his approval of the three-zero reduction.

Now Bahmani has suddenly added a zero. While he gave no explanation for the change, he hinted that he was seeking parity with the dollar.

“The new rial … will be equal in value to one (US) dollar,” the state news agency quoted Bahmani as saying, adding that it would take “one to two years” to be implemented.

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This one is cracker...

 

Central Bank Governor Mahmud Bahmani said the decision was made by the cabinet Sunday. He did not announce the new name of the currency, but said it would be published “soon” on the bank’s website.

 

Back in April, Bahmani said the shift from dropping three zeros to dropping four would give the rial parity with the US dollar. Right now, $1 equals about 10,500 rials. By shifting the decimal point four digits to the left, one dollar will cost 1.05 rials.

 

If the rial indeed is configured to be close to a dollar, Iran will likely resurrect the dinar. The rial is officially divided into 100 dinars, but the dinar is now a relic recalled only by the very aged. The dinar effectively died with the gross inflation of World War

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3 hours ago, screwball said:

This one is cracker...

 

Central Bank Governor Mahmud Bahmani said the decision was made by the cabinet Sunday. He did not announce the new name of the currency, but said it would be published “soon” on the bank’s website.

 

Back in April, Bahmani said the shift from dropping three zeros to dropping four would give the rial parity with the US dollar. Right now, $1 equals about 10,500 rials. By shifting the decimal point four digits to the left, one dollar will cost 1.05 rials.

 

If the rial indeed is configured to be close to a dollar, Iran will likely resurrect the dinar. The rial is officially divided into 100 dinars, but the dinar is now a relic recalled only by the very aged. The dinar effectively died with the gross inflation of World War

 

 

Thxs SB. How old is this article ? I know this is the rumor section but is there a link for this article ?

 

Cheers, pp

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