Iran Central Bank's proposal to slash zeros from rial put on parliament`s agenda

By Trend

The Central Bank of Iran's proposal, which was submitted last year to remove the four zeros from the national currency, was put on the agenda of the Parliament`s Economic Commission for review.

Removal of zeros from the national currency of Iran has been raised several times, but there has never been a serious executive measures to implement this bill, Trend reports citing ISNA.

On January 6, Iran’s central bank has proposed to cut off four zeros from the rial, after the currency plunged in a year marked by an economic crisis fueled by U.S. sanctions.

Proposals to remove four zeros from the currency have been floated since 2008, but the idea has raised again as the rial lost more than 60 percent of its value in 2018 due to US sanctions.

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