Denomination process of currency to start in Iran

Finance Materials 15 November 2020 05:01 (UTC +04:00)
Denomination process of currency to start in Iran

BAKU, Azerbaijan, Nov. 15

By Elnur Baghishov – Trend:

The denomination process of the Iranian official currency will begin soon, and 1 million and 100,000-rials banknotes will be printed in this regard, Trend reports citing Central Bank of Iran (CBI).

According to the CBI, new security features have been prepared on the 1 million-rials banknote and this banknote will be provided to citizens as needed on shopping.

The CBI noted that a number of security factors have also been applied in the new 100,000-rials banknote.

The CBI added that three-dimensional watermark, electrotype, invisible fibers, security cord, gloss, etc. are applied on the new banknotes.

The Central Bank of Iran is ready to implement the plan to remove 4 zeros from the national currency and marks the 4 zeros in different colors on the mentioned two banknotes.