A Rial Mess: Iran Tries To Reboot Its Struggling Currency Once Again
Opinions expressed by Forbes Contributors are their own./ I write about business and politics in the Middle East and beyond/ The Iranian government is planning to cut four zeros from its currency and change its name from the rial to the toman, in the latest attempt to reset its struggling economy, which is being hammered by U.S. sanctions. to the Majlis (parliament) on August 21, seeking MPs’ approval for the plan to convert 10,000 rials into one toman. The cabinet had agreed to the proposal on August 4. The idea is not a new one. The ...
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