Core Viewpoint - Iran's parliament has approved a comprehensive reform of its currency system, which involves removing four zeros from the national currency to simplify transactions after years of high inflation [1][2]. Group 1: Currency Reform Details - The reform plan was approved after resolving opposition from the Constitutional Guardian Council, with a two-year preparation period for the central bank followed by a three-year transition period where both old and new denominations will coexist [2]. - The current inflation rate in Iran exceeds 35%, leading to the rial's exchange rate dropping to 1,150,000 rials per US dollar in the free market, diminishing the practical utility of banknotes [1][2]. Group 2: Economic Implications - The chairman of the Economic Committee stated that the reform will make the rial more convenient for transactions and calculations, addressing the severe impact of high inflation on the currency's usability [2]. - However, there are concerns that merely removing zeros will not restore the currency's reputation, and that actual value enhancement is necessary for meaningful recovery [2]. Group 3: Comparative Context - Other countries facing high inflation, such as Venezuela, have also attempted to remove zeros from their currencies, but continue to struggle with ongoing inflation issues [2].
伊朗货币面值将“去掉四个零”
财联社·2025-10-06 09:27