Tehran, Iran, July 31
Trend:
Iranian government has approved the bill to remove four zeros from the country's national currency, however this approach will not have a deep effect on the economy, economic expert, Governor of Golestan Province Hadi Haghshenas told Trend.
"The action is similar to a cosmetic surgery operation, since removing four zeros has no effect on inflation rate or real part of economy," he noted.
"In general, removing zeros are aimed to reduce difficulties of money transportation, but in Iran people do not have problem for transporting money like in other countries," he said.
"On the other hand, countries that remove zeros mostly have a three-figure inflation rate and have problem in transporting money, but today ATMs or internet have solved the problem and we are not facing a 3-digit inflation rate in Iran," he added.
"Removing four zeros only changes the form of money," he noted.
The government's cabinet members have approved the CBI proposed bill to remove four zeros from the national currency and change the currency from "rial" to "toman". The decision is aimed to facilitate monetary transactions and maintain monetary efficiency.
The bill was proposed by Central Bank of Iran (CBI) as part of a broader plan to reform the monetary system.