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FW....hate to disappoint you but Im not a "brother"        more like a sister ,girl, dudett , millionairess, female,  all of the above .....   

Talked with my banker buddy here in town to see if she was given even an Inkling of anything possible in the works. Nope She said that if or even if ever any country changes rates in a dramatic manne

Once we get the green light from Canadians banks I will put the plan in place so I can send to any interested so they won't need to figure out what to do here. As in paperwork, I.D. ect. pp

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1 minute ago, navira said:

Yup...if they devalue 10folds, we'd be making 23thou dollars on our 1mill rials bro...all good

 

I would be set for life. I’ve always felt good about the Rial. Especially a Rial with cheese!😂

 

9EA94D79-C8B2-4D84-9BB0-BDD7BB56B4C8.png

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TEHRAN (Reuters) - Iranian President Hassan Rouhani sent a bill to parliament on Wednesday to remove four zeros from the value of a nation's currency, which has been hit by severe financial sanctions.
The "Associated Press" quoted semi-official news agencies that Rouhani will send the bill to parliament for consideration in a hurry.
The Iranian rial has faltered because of the effects of heavy US sanctions on the country since President Donald Trump's decision to withdraw from the nuclear deal more than a year ago.
The value of one dollar in the trading markets today 116500 riyals.
At the time of the signing of the nuclear agreement in 2015, the value of the dollar was 32 thousand riyals, but the recent US sanctions made it deteriorate significantly.
The Iranian government approved in early August the deletion of four zeros from the rial, and the adoption of "Altoman" alternative currency.
Government officials said the move would make the Iranian currency "more effective", they said.

 

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10 hours ago, pokerplayer said:

 

Not looking good I'm afraid.

 

  pp

Nothing will change (in the economic situation) by knocking off zeros from the currency,” he said. “Nothing will change by reviving coins in transactions.”......clearly by this statement something has to change!

 

 

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15 hours ago, pokerplayer said:

 

Not looking good I'm afraid.

 

  pp

 

It ain't over, till' its' over PP!!  Play big or stay home, remember?!  I'm 50 million in, it was either this or me blowing it all in Vegas anyways!!

 

WE AIN'T STAYING HOME GIRLFRIEND!! :cheesehead: 

 

 

5 hours ago, screwball said:

This means we should see a vote on it this week

 

:rocking-chair::praying: we all hope to see!!

4 hours ago, navira said:

IMF warns that currency devaluations will not fix a country's economic problems

 

Alrighty!!!  So push that darn button!! :rodeo:

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Iran to scrap rial for good as parseh becomes small currency unit

Wed Aug 21, 2019 02:35PM [Updated: Wed Aug 21, 2019 02:51PM ]
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Iran’s smallest unit of currency, equal to a hundredth of a toman, will be named parseh. (Photo by AFP) Iran’s smallest unit of currency, equal to a hundredth of a toman, will be named parseh. (Photo by AFP)

The rial, the currency unit used consistently in Iran for almost a century, will be totally abandoned once the country introduces a redenomination.

Iran’s new small unit of currency under toman will be named parseh and not rial, as previously reported in the media, based on the terms of a bill sent by the government to the parliament on Wednesday.

“Iran’s unit of currency is toman and each toman is equal to 10,000 current rials and equal to one hundred parsehs,” read the Article A of the Bill to Reform Iran’s Monetary and Banking Law, ratified by the Cabinet on August 4, 2019.

The bill said the rial will continue to remain a legal tender for a maximum of two years of transition period which will begin once the new currency is introduced to the markets.

“After the transition period, all liabilities that have been accrued based on the currency unit of rial will only be settled through the currency unit of toman,” read a sub-article of the bill, a copy of which was circulating in the Iranian media on Wednesday.

Iran’s decision to slash four zeros off the rial comes less than a year after the national currency plunged in the face of a series of American sanctions.

The rial regained some of its footing last month after the government announced measures to narrow the gap between the price of the currency in the unregulated market and a system meant to collect foreign currencies earned from exports.

Analysts believe redenomination of currency in Iran will have a slight psychological impact on the markets as the government tries to improve macroeconomic indicators.

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August 20, 2019 19:42

Iran's Economy Improving Gradually 

 
CBI data show out of the total 7,737 trillion rials ($60 billion) loans paid in the last fiscal year (ended March 2019), 4,319 trillion rials ($33.3 billion) was allocated to help raise the working capital of businesses

Leaving behind months of rainy days, Iran’s economy is showing signs of improvement in major variables, governor of the Central Bank of Iran said on Monday. 

Speaking on prime time state TV, Abdolnasser Hemmati spoke of relative improvement in macroeconomic indices like inflation, forex rates and liquidity in recent months, following instability and turmoil in almost all domestic markets last year. 

“The national currency regained 40% of its value,” Hemmati said. 

The rial fell more than 60% in unprecedented market fluctuations during April-September 2018, spurred by threats of new US economic sanctions and dim prospects for currency reserves as oil revenues took a drubbing unseen in recent decades. 

 

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Iran: Rial Revaluation Bill Sent to Majlis

 
Iran: Rial Revaluation Bill Sent to Majlis
Iran: Rial Revaluation Bill Sent to Majlis

President Hassan Rouhani sent the rial redenomination bill to the Majlis on Wednesday for debate. 

As per the ‘Reforming Monetary and Banking Law’ bill, four zeros will be shaved off the national currency and the monetary unit will switch officially from the rial to the commonly used toman, the official government website, dolat.ir reported.  

Originally floated as a Central Bank of Iran proposal, the bill was approved by the government earlier in the month. It must be endorsed by the Majlis to become law. 

Accordingly, the minor monetary unit of the new currency will be dubbed ‘parseh

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One thing I wanna make clear is that a redonimation is really an rv in this case...Where the old bill retains its zeroes while the new currency with less zeroes are introduced...it is the monetary unit that is changed(i.e. nominal value from the rate of that currency...ex. 1rial=.0000238us cents)....u slash 4 zeroes off n it becomes 1rial=.238us cents....Cheers all

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1 hour ago, navira said:

One thing I wanna make clear is that a redonimation is really an rv in this case...Where the old bill retains its zeroes while the new currency with less zeroes are introduced...it is the monetary unit that is changed(i.e. nominal value from the rate of that currency...ex. 1rial=.0000238us cents)....u slash 4 zeroes off n it becomes 1rial=.238us cents....Cheers all

Thanks Navira. I think you might be correct in what they're intemding to do. I for one am glad to be in it to win it.

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39 minutes ago, Jim4 said:

Narvia, wouldn’t that make it $238,000 per million?, I read somewhere where it would be $23,000 a million, I know no one really knows, I was just trying to understand the math. Thanks

Yes it would.... This statement makes it a little higher than that: Navari.........Bring your math on the rial over here please . Thank You in advance.....According to the bill, the Iranian currency is changed to USD and each USD is equal to 4 rials current and is equal to one hundred rupees.

 

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10 hours ago, Jim4 said:

Narvia, wouldn’t that make it $238,000 per million?, I read somewhere where it would be $23,000 a million, I know no one really knows, I was just trying to understand the math. Thanks

 

9 hours ago, navira said:

Yes it would.... This statement makes it a little higher than that: Navari.........Bring your math on the rial over here please . Thank You in advance.....According to the bill, the Iranian currency is changed to USD and each USD is equal to 4 rials current and is equal to one hundred rupees.

 

 

4 hours ago, screwball said:

238,000 per million or more will certainly make me happy..

 

4 hours ago, screwball said:

2.38:usd per million rial would be much better 😀

 

good-fainting-gif.gif

 

One would pass out of sheer excitement, the other running to hug everyone happy that this would be over and done with! :lol::cheesehead:

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