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Iran to simplify currency by removing four zeros, as rial hits record low amid sanctions.
Iran’s parliament has approved a plan to remove four zeros from the rial, replacing 10,000 old rials with one new rial to simplify transactions amid severe inflation and currency devaluation.
The reform, revived after years of delay, requires final approval from the Guardian Council and President Masoud Pezeshkian.
The rial hit a record low of about 1.115 million per dollar on October 5, 2025, due to renewed international sanctions, including a "snapback" by Britain, France, and Germany over Iran’s nuclear program.
Both old and new currencies will circulate for up to three years, with implementation set to begin within two years.
Iranians have long used the toman, equivalent to one-tenth of a rial, in daily life.
Irán simplificará la moneda eliminando cuatro ceros, ya que el rial alcanza un nivel récord bajo en medio de sanciones.