Rial

Rial regains as Iran’s CBI puts brakes on dollar

A new wave of devaluation for Iran’s rial seems to have come to an end as the Central Bank of Iran (CBI) resumes rationing the US dollar while it dismantles price restrictions in two government-run exchange markets.

Financial Markets

Iran limits cash withdrawals from banks to prevent money laundering, inflation

The Central Bank of Iran (CBI) has imposed a cap on withdrawal of cash from banks amid toughening of rules on money laundering and also efforts to contain inflation.

Macro Economy

Iran parliament approves plan to cut four zeros from currency

Iran’s parliament has passed a bill allowing the government to slash four zeros from the rial.

Macro Economy

Tehran Chamber of Commerce cautions against undesired currency redenomination results

The idea of removing zeros from the rial has been floated several times in Iran over the past years. This may come true during the two years remaining in President Hassan Ruhani’s tenure. His government drafted a bill to this effect and sent it to the Parliament on Wednesday to be debated.

Financial Markets

Toman: Iran government passes bill to slash four zeros from currency

Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value last year after the restoration of economic sanctions on Tehran in 2018.

Financial Markets

Toman instead of rial: Iran to cut four zeros from currency in two years

Tehran has been planning since 2008 to redenominate the national currency as it continued devaluation. Now, the government is pushing the plan forward following the drastic loss of the currency value in 2018 after the restoration of economic sanctions on Tehran in 2018.

Financial Markets

Iran mulls slashing zeros from currency

The idea was floated in 2008 under the previous administration of President Mahmoud Ahmadinejad but didnt move forward. The current situation with recent rial devaluation has spurred authorities to push it forward.

Financial Markets