100,000-rial bill debut on Tuesday
The largest denomination of the Iranian currency currently printed is the 100,000-rial bill which is going to be shown to the public in a ceremony in the Central Bank on Tuesday.
The Mehr News Agency reported that prior to the idea of printing these new bills there were plans to delete some zeros from the national denomination as part of the National Money Reform Program in line with the implementation the administration's Economic Reform Plan.
After studies the Central Bank decided that there was no need to omit the zeros and postponed the plan for the time after implementing the Subsidies Reform Plan.
Central Bank officials claim that the incoming bills will not increase the volume of liquidity in the market because cashier's checks will be collected and the new bills will replace them.
In the first phase a minimum of 150 million bills will be spread in the market in a three-month period.