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yota691

Iran to delete 4 zeroes from the national currency

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5 minutes ago, SONIA1 said:

 

FYI bros when countries lops the parliament has to approve it , but not when they RV,  so when Iraq RV from 4000 to 1190 like you said they did not need approval from  Parliament. When process take place for Iran and delete 4 zeros for every 1000000 rial you will get 100 Toman  and the exchange rate will be 4.2 Toman =$1 so your million will be worth around $23.

Reread the article that is provided to u.

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7 minutes ago, SONIA1 said:

 

FYI bros when countries lops the parliament has to approve it , but not when they RV,  so when Iraq RV from 4000 to 1190 like you said they did not need approval from  Parliament. When process take place for Iran and delete 4 zeros for every 1000000 rial you will get 100 Toman  and the exchange rate will be 4.2 Toman =$1 so your million will be worth around $23.

U are dealing with two variables....toman n rials....that's a hint to u

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1 minute ago, navira said:

Wrong...reread again...cheers

 

 

With all do respect bro you should re read it again not me. 

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Just now, navira said:

U are dealing with two variables....toman n rials....that's a hint to u

That doesn't mean Rv bro.

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Just now, SONIA1 said:

 

 

With all do respect bro you should re read it again not me. 

Point it out to me...then will challenge ourselves with numbers

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2 minutes ago, SONIA1 said:

That doesn't mean Rv bro.

That's it? That's all u got?...

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1 hour ago, navira said:

Can a country(like iraq) revalue even if they are sanctuoned..i.e., chapter 7....? Answer: yes. Didn't iraq revalue from 4000iqd to what is now at 1190dinars per dollar? Iran will do the same...the cab  just approved the currency bill recently...Didn't they?...just need an approval from the Guardian council n the president so the CBI can move along with the plan....my question to u now is: did Iraq ever talk about the cabinet approving the currency reform in the news...have u seen any?

I dont see where that happened.

 

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Iran already know that devaluation dont work...it causes to increase inflation....they are getting rid of the rials n divert to the original currency which is the toman...in order to that, Iran has to prevent not to cause the inflation or anything to get affected...they are getting rid of the 4 zeroes from the toman which will eventually be the official curreny...they are making the sub currency which is the rial...1toman=100rials instead of 1toman=10rials.

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3 minutes ago, navira said:

Iran already know that devaluation dont work...it causes to increase inflation....they are getting rid of the rials n divert to the original currency which is the toman...in order to that, Iran has to prevent not to cause the inflation or anything to get affected...they are getting rid of the 4 zeroes from the toman which will eventually be the official curreny...they are making the sub currency which is the rial...1toman=100rials instead of 1toman=10rials.

It is a balancing reaction guys...anyone here ever remember chemistry? Where u have to balance one side of the chemical to equate with the end product of the equation....it is the same thing what Iran is doing..they are making the toman revalue tenfolds in relation to rials by making it 1toman =100rials....inside Iran the values on meat ..wages...among other things will remain unchanged.....the only thing that has changed is the face value of the currency....hold on to the rials...cheers

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2 minutes ago, navira said:

It is a balancing reaction guys...anyone here ever remember chemistry? Where u have to balance one side of the chemical to equate with the end product of the equation....it is the same thing what Iran is doing..they are making the toman revalue tenfolds in relation to rials by making it 1toman =100rials....inside Iran the values on meat ..wages...among other things will remain unchanged.....the only thing that has changed is the face value of the currency....hold on to the rials...cheers

Yes I do remember turkey🤔

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1 minute ago, SONIA1 said:

Yes I do remember turkey🤔

Obviously u don't ..so u resort to name calling...I don't think u have ever been to a higher math haha

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18 minutes ago, navira said:

Iran already know that devaluation dont work...it causes to increase inflation....they are getting rid of the rials n divert to the original currency which is the toman...in order to that, Iran has to prevent not to cause the inflation or anything to get affected...they are getting rid of the 4 zeroes from the toman which will eventually be the official curreny...they are making the sub currency which is the rial...1toman=100rials instead of 1toman=10rials.

I hope so for your sake.

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17 minutes ago, newbieDA said:

please close  this thread

 

Please Close Ur Eyes ! :o 

 

 

 

And Keep It Going Sonia And Bro’nia ! :lmao:

 

:D  :D  :D 

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Just now, DinarThug said:

 

Please Close Ur Eyes ! :o 

 

 

 

And Keep It Going Sonia And Bro’nia ! :lmao:

 

:D  :D  :D 

Lol bro...just wanna let everyone know here...that the only person that can really put a big smile on me face is bro thug...lol

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7 minutes ago, DinarThug said:

 

Please Close Ur Eyes ! :o 

 

 

 

And Keep It Going Sonia And Bro’nia ! :lmao:

 

:D  :D  :D 

Amen.  If you are not invested in IRR to date, stop prosecuting diversified DV Members who are.  Thank you.

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29 minutes ago, navira said:

.I don't think u have ever been to a higher math haha

 

I went to this Math Class for my advanced Degree.

 

DA5A83E8-E00F-4E2E-9A28-11B351546385.gif.8abe8fcb8f883e33fe764b9c5fb7f882.gif

 

 

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1 minute ago, southbeach said:

Amen.  If you are not invested in IRR to date, stop prosecuting diversified DV Members who are.  Thank you.

Well said SB.

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Just now, Pitcher said:

 

I went to this Math Class for my advanced Degree.

 

DA5A83E8-E00F-4E2E-9A28-11B351546385.gif.8abe8fcb8f883e33fe764b9c5fb7f882.gif

 

 

Bro, I remember someone got in trouble doing that....later someone put a check mark right next the no.16...lmao

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1 hour ago, SONIA1 said:

That doesn't mean Rv bro.

So why does Iraq have a bill to delete three zeros? Suggest you do your research 

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1 hour ago, jg1 said:

I dont see where that happened.

 

By late 1995, US$1 was valued at 3,000 dinars (i know it went more than 3,000 dinars per dollar)at the black market.

here, Iraq had changed sadams note which had that rate mentioned above...to a newer note which we all have now...iraqis turned in sadams note to a newer note at a ONE TO ONE equivalent...Between 15 October 2003, and 15 January 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by the British security printing firm De La Rue using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives". Multiple trillions of Dinar were then shipped to Iraq and secured in the CBI for distribution to the masses in exchange for the 'Saddam dinar'.[2] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar....later the rate went to 1170 dinars per dollar to today's rate...

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28 minutes ago, navira said:

By late 1995, US$1 was valued at 3,000 dinars (i know it went more than 3,000 dinars per dollar)at the black market.

here, Iraq had changed sadams note which had that rate mentioned above...to a newer note which we all have now...iraqis turned in sadams note to a newer note at a ONE TO ONE equivalent...Between 15 October 2003, and 15 January 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by the British security printing firm De La Rue using modern anti-forgery techniques to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives". Multiple trillions of Dinar were then shipped to Iraq and secured in the CBI for distribution to the masses in exchange for the 'Saddam dinar'.[2] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar....later the rate went to 1170 dinars per dollar to today's rate...

Thanks for your time and all that research. 

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This is the history of the currency in Iran .. Why Tehran will delete the zeros from its banknotes?

Economy | 08:43 - 17/08/2019

 
image
 
 

 

Follow - up - News balances 
decades ago the governments of many countries have benefited from the benefits of the deletion of zeros from their local currencies, to facilitate use among people and reduce printing costs and control inflation and strengthen the local currency position among nations. 
After rounds of negotiations over the years, the Iranian government approved a proposal by the central bank in January this year to remove the four zeros from the local currency, and the proposal was submitted to the Iranian parliament for approval. 
Since the reign of the Achaemenids to date, more than 50 different currency types have been used in Iran, such as the Achaemenid Drake, the Dirham, the Sassanian dinar, the Shah, the Abbasid Safavid, the Toman, and the Qajar Koran to the current rial and dinar.
According to the first article of the banking monetary law adopted since 1972 in Iran, the official currency of the country is the Iranian rial, which was replaced by the Toman in the Pahlavi state in 1929 and continued to this day, where one riyal consists of one hundred dinars. 
Although the name of the currency has changed to the riyal, the Iranian people still call their currency "Toman" in their purchasing business. The use of the riyal name is limited to banks and official institutions in Iran. 
But according to the central bank's plan, the toman would become the official currency of Iran as an alternative to the rial. Four zeros will be deleted from the official currency.

Toman Original currency 
The Toman will become the original currency of Iran, while the riyal remains the sub-currency, each 100 riyals constitute one toman. 
For its part, the Central Bank announced the start of the process of collecting used money and exchange of new money within 24 months after the approval of Parliament. 
"The value of the Iranian national currency has fallen by 3,500 times since 1971, and the exchange rate of the Iranian riyal against foreign currencies (the dollar) is 0.000008 and we need to fix the appearance of the currency and improve the riyal relationship," Central Bank of Iran (NBI) President Nasser Hemmati said in August. In dollars. " 
He added that there are currently seven billion banknotes in the country, but the number will fall to three billion after the exchange of the riyal Altoman. This will facilitate trade and exchange between people and reduce the cost of printing money. 
  Divergent views
Opinions about the new plan were divided between loyal and opposition until the issue became controversial in Iran, and in the opinion of opponents, the government's pursuit in this regard is a waste of time and effort only. 
In their view, it is more feasible at this stage for the government to focus on reforming the country's economic system and reducing inflation, which has reached 40%, while the economic growth rate is 5%. 
Similar experience in other countries shows that monetary change only achieves its objectives and desired results when economic stability is achieved. Otherwise, this would constitute a heavy financial burden on the economy and the government, especially since the government is currently suffering from budget deficits, economic instability, high inflation and economic sanctions. .
On the other hand, supporters believe that the most important features of the plan is to give the currency its real value. 
The plan is characterized by reducing the size of banknotes and facilitate transactions and reduce the storage and maintenance space and save the banknotes better, and facilitate the process of carrying and transport, and reduce the psychological effects of inflation, and raise the currency between countries, and save time for people and banks at the same time, according to supporters .

 Inflation and other things 
says Ali religious Turkmen professor at Tehran University and a faculty member at the Institute for Studies and Research business in his speech to the island "took this decision as a result of continuous inflation years now , which contributed zooms in numbers." 
He pointed out that the key elements of currency stability and control of inflation are not achieved when changing the currency and deleting zeros, Turkey has a similar experience in the deletion of six zeros from its currency in 2005, but the plan would not have benefited the Turkish economy without Turkey's involvement in the European market and attract head Foreign money and the correct management of the economy. 
He also said that this plan will not affect the purchasing power or people's property, and that the deletion of zeros will include money and goods at the same time, for example, the price of bread will become Tomanin instead of 20,000 riyals.
Similarly, for foreign trade or foreign exchange transactions, prices will remain the same, and the purchasing power of foreign currencies will remain unchanged with the new toman, he said. 
In this sense, changing the currency and deleting its zeros is a double-edged sword for the Iranian economy. The success of the plan depends on the government's parallel economic reforms, to safely pass the thorny economic entitlement, or else it will plunge into inflation again if it continues to deal with the economy with the old system and the same mentality adopted four decades ago, observers say.

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7 minutes ago, yota691 said:

This is the history of the currency in Iran .. Why Tehran will delete the zeros from its banknotes?

Economy | 08:43 - 17/08/2019

 
image
 
 

 

Follow - up - News balances 
decades ago the governments of many countries have benefited from the benefits of the deletion of zeros from their local currencies, to facilitate use among people and reduce printing costs and control inflation and strengthen the local currency position among nations. 
After rounds of negotiations over the years, the Iranian government approved a proposal by the central bank in January this year to remove the four zeros from the local currency, and the proposal was submitted to the Iranian parliament for approval. 
Since the reign of the Achaemenids to date, more than 50 different currency types have been used in Iran, such as the Achaemenid Drake, the Dirham, the Sassanian dinar, the Shah, the Abbasid Safavid, the Toman, and the Qajar Koran to the current rial and dinar.
According to the first article of the banking monetary law adopted since 1972 in Iran, the official currency of the country is the Iranian rial, which was replaced by the Toman in the Pahlavi state in 1929 and continued to this day, where one riyal consists of one hundred dinars. 
Although the name of the currency has changed to the riyal, the Iranian people still call their currency "Toman" in their purchasing business. The use of the riyal name is limited to banks and official institutions in Iran. 
But according to the central bank's plan, the toman would become the official currency of Iran as an alternative to the rial. Four zeros will be deleted from the official currency.

Toman Original currency 
The Toman will become the original currency of Iran, while the riyal remains the sub-currency, each 100 riyals constitute one toman. 
For its part, the Central Bank announced the start of the process of collecting used money and exchange of new money within 24 months after the approval of Parliament. 
"The value of the Iranian national currency has fallen by 3,500 times since 1971, and the exchange rate of the Iranian riyal against foreign currencies (the dollar) is 0.000008 and we need to fix the appearance of the currency and improve the riyal relationship," Central Bank of Iran (NBI) President Nasser Hemmati said in August. In dollars. " 
He added that there are currently seven billion banknotes in the country, but the number will fall to three billion after the exchange of the riyal Altoman. This will facilitate trade and exchange between people and reduce the cost of printing money. 
  Divergent views
Opinions about the new plan were divided between loyal and opposition until the issue became controversial in Iran, and in the opinion of opponents, the government's pursuit in this regard is a waste of time and effort only. 
In their view, it is more feasible at this stage for the government to focus on reforming the country's economic system and reducing inflation, which has reached 40%, while the economic growth rate is 5%. 
Similar experience in other countries shows that monetary change only achieves its objectives and desired results when economic stability is achieved. Otherwise, this would constitute a heavy financial burden on the economy and the government, especially since the government is currently suffering from budget deficits, economic instability, high inflation and economic sanctions. .
On the other hand, supporters believe that the most important features of the plan is to give the currency its real value. 
The plan is characterized by reducing the size of banknotes and facilitate transactions and reduce the storage and maintenance space and save the banknotes better, and facilitate the process of carrying and transport, and reduce the psychological effects of inflation, and raise the currency between countries, and save time for people and banks at the same time, according to supporters .

 Inflation and other things 
says Ali religious Turkmen professor at Tehran University and a faculty member at the Institute for Studies and Research business in his speech to the island "took this decision as a result of continuous inflation years now , which contributed zooms in numbers." 
He pointed out that the key elements of currency stability and control of inflation are not achieved when changing the currency and deleting zeros, Turkey has a similar experience in the deletion of six zeros from its currency in 2005, but the plan would not have benefited the Turkish economy without Turkey's involvement in the European market and attract head Foreign money and the correct management of the economy. 
He also said that this plan will not affect the purchasing power or people's property, and that the deletion of zeros will include money and goods at the same time, for example, the price of bread will become Tomanin instead of 20,000 riyals.
Similarly, for foreign trade or foreign exchange transactions, prices will remain the same, and the purchasing power of foreign currencies will remain unchanged with the new toman, he said. 
In this sense, changing the currency and deleting its zeros is a double-edged sword for the Iranian economy. The success of the plan depends on the government's parallel economic reforms, to safely pass the thorny economic entitlement, or else it will plunge into inflation again if it continues to deal with the economy with the old system and the same mentality adopted four decades ago, observers say.

Yep and there is articles saying they will delete zeros from rate...beIieve what you will. Thanks for reposting 

Edited by screwball
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A new channel to support Tehran in hard currency .. High numbers of Iraqis who are dealing with Iran


ÙÙاة جدÙدة ÙرÙد Ø·Ùرا٠باÙعÙÙØ© اÙصعبة.. ارتÙاع اعداد اÙعراÙÙÙ٠اÙØ°ÙÙ ÙتعاÙجÙ٠باÙراÙ

 

17th August, 2019

 

The number of Iraqis dealing with Iran has doubled, an official source said on Saturday, adding that this is a new channel for supplying Tehran with hard currency.


The source said that "the figures provided for the number of Iraqis departing to Iran last July for treatment there, indicate a rise in vulnerability compared to the same month last year," noting that "there are more than 20,000 Iraqi patients in July moved to Iran for treatment in hospitals."

He added that "the rate of what one Iraqi spent on treatment there is about 3,000 dollars on average," pointing out that "patients resort to Tehran to perform operations and treatment for diseases of infertility and kidney, cancer and nerves, in addition to cosmetic medicine."
 
"The rising number of Iraqis heading to Iran means a new channel to withdraw hard currency from Iraq to Iran ," he said, adding that "Iran is not the only one attracting Iraqi patients. Turkey, Jordan , Lebanon and India are key destinations. There for treatment." The source said that "the amounts that come out annually from Iraq abroad would build several advanced hospitals in the country."


Earlier, a member of the parliamentary health and environment committee, Istisna al-Hasnawi, called for the establishment of a government hospital in the capital or any province in Iraq with international standards and health services to treat patients instead of spending money to send them for treatment abroad.

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    • By DWS112
      This is the history of the currency in Iran .. Why Tehran will delete the zeros from its banknotes?
      8/16/2019

       
      Mohammad Rehmanpour-Tehran
       
      For decades, governments of many countries have benefited from the benefits of deleting zeros from their local currencies, to facilitate their use among people, reduce printing costs, control inflation and strengthen the position of the local currency among countries.
      After rounds of negotiations over the years, the Iranian government approved a proposal by the central bank in January this year to remove the four zeros from the local currency, and the proposal was submitted to the Iranian parliament for approval.
       
      Since the reign of the Achaemenids to date, more than 50 different currency types have been used in Iran, such as the Achaemenid Drake, the Dirham, the Sassanian dinar, the Shah, the Abbasid Safavid, the Toman, and the Qajar Koran to the current rial and dinar.
       
      According to the first article of the banking monetary law adopted since 1972 in Iran, the official currency of the country is the Iranian rial, which was replaced by the Toman in the Pahlavi state in 1929 and continued to this day, where one riyal consists of one hundred dinars.
       
      Although the name of the currency has changed to the riyal, the Iranian people still call their currency "Toman" in their purchasing business. The use of the riyal name is limited to banks and official institutions in Iran.
       
      But according to the central bank's plan, the toman would become the official currency of Iran as an alternative to the rial. Four zeros will be deleted from the official currency.
       

       
      Toman Original currency

      The Toman will become the original currency of Iran, while the riyal remains the sub-currency, each 100 riyals constitute one toman.
      For its part, the Central Bank announced the start of the process of collecting used money and exchange of new money within 24 months after the approval of Parliament.
       
      "The value of the Iranian national currency has fallen by 3,500 times since 1971, and the exchange rate of the Iranian riyal against foreign currencies (the dollar) is 0.000008. In dollars. "
       
      He added that there are currently seven billion banknotes in the country, but the number will fall to three billion after the exchange of the riyal Altoman. This will facilitate trade and exchange between people and reduce the cost of printing money.
       
       Divergent views
      Opinions on the new plan were divided between loyal and opposition until the issue became controversial in Iran.
      In their view, it is more feasible at this stage for the government to focus on reforming the country's economic system and reducing inflation, which has reached 40%, while the economic growth rate is 5%.
       
      Similar experiences in other countries show that monetary change only achieves its objectives and desired results when economic stability is achieved. .
       
      On the other hand, supporters believe that the most important features of the plan is to give the currency its real value.
      The plan is characterized by reducing the size of banknotes and facilitate transactions and reduce the storage and maintenance space and save the banknotes better, and facilitate the process of carrying and transport, and reduce the psychological effects of inflation, and raise the currency between countries, and save time for people and banks at the same time, according to supporters .
       

       
       Inflation and other things

      says Ali religious Turkmen professor Tehran University and faculty member at Institute Studies and Research business in his speech to island "took this decision result continuous inflation years now which contributed zooms numbers."
       
      He pointed out that the basic elements of currency stability and control of inflation are not achieved when changing the currency and deleting zeros, Turkey has a similar experience in the deletion of six zeros from its currency in 2005, but the plan would not have benefited the Turkish economy without Turkey's involvement in the European market and attract head Foreign money and the correct management of the economy.
       
      He also said that this plan will not affect the purchasing power or people's property, and that the deletion of zeros will include money and goods at the same time, for example, the price of bread will become Tomanin instead of 20,000 riyals.
       
      Similarly, for foreign trade or foreign exchange transactions, prices will remain the same, and the purchasing power of foreign currencies will remain unchanged with the new toman, he said.
       
      In this sense, changing the currency and deleting its zeros is a double-edged sword for the Iranian economy. The success of the plan depends on the government's parallel economic reforms, to safely pass the thorny economic entitlement, otherwise it will sink into inflation again if it continues to deal with the old system and the same mentality four decades ago, observers say.
       
    • By yota691
      Economist: Iraq is not affected by the fall of the Toman because it deals with a basket of world currencies, including the dollar
      Economie 11:58 Last updated S homepage! 1208 Watch       BAGHDAD (Reuters) - 
      The collapse of the Iranian currency against the dollar is an internal affair of the Iranian republic and has a positive impact on Iraq, the economic expert said on Monday. 
      Jabbar said in an interview with "Al-Ghad Press" that "the financial deposit of the Iraqi investor in Iranian banks and banks is not affected by the decline or collapse of the Iranian Toman against the US dollar, being considered a foreign deposit remains the same with their benefits in a certain investment circle," adding that "The stock market and securities and the basket of foreign currencies against the Iranian currency will certainly affect the decline or collapse of the Iranian Toman."

      "The decline of the Iranian currency does not affect the Iraqi investors because the decline or collapse of the Tuman is because of the sanctions imposed by the United States of America on Iran, and therefore do not reflect a serious market," noting that "the process of retreat or collapse of the Iranian Toman on Iraq Will have a positive outcome, because Iraq is a country importer of Iranian goods. " 
      "The decline in the Iranian currency will reduce the investments in Iran and begin to move towards Iraq in light of the improved security and economic situation in Iraq," Jabbar said, adding that "Iraqi imports will be booming because the financial value of imported quantities will be less as a result of the decline of Atoman against the US dollar, Fruits and Iranian milk. "
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