BAKU, Azerbaijan, May 12. Iran's national currency, the rial, will undergo redenomination during the current Iranian year (from March 21, 2025, through March 20, 2026), said Mohammadreza Farzin, the Governor of Iran Central Bank (CBI), Trend reports.
In his address at the “Money and Currency Policies” conference in Tehran, Farzin stated that removing four zeros from the national currency is one of the bank’s key initiatives.
“There is no proper or accurate perception of the Iranian rial in the global economy. For this reason, the removal of zeros from the currency remains a priority,” he stated.
Based on successful international experiences, implementing this policy could significantly enhance the image of Iran’s currency,” he said.
The Iranian Parliament approved the redenomination plan in 2020. According to the legislation, four zeros will be dropped from the rial, and the currency will be renamed toman (superunit of the rial). One toman will be equal to 10,000 rials and 100 qirans.
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