Iran agrees to remove four zeros from currency

Business Materials 11 July 2011 17:00 (UTC +04:00)

Azerbaijan, Baku, July 11 /Trend/

The Central Bank of Iran's (CBI) proposal to remove four zeros from its national currency was approved by the government on Sunday, the Fars News Agency reported quoting CBI Governor Mahmoud Bahmani as saying.

"The government agreed to the suggestion," he said.

Details about the new currency and its digits will be announce publicly on the CBI website.

The CBI predicted it requires at least three years to prepare certain measures to replace Iran's national currency.