Iranian Central Bank: Deleting the zeros of the national currency does not generate inflation

International

4-05-2020, 16:38

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Baghdad -INA

The Governor of the Central Bank of Iran, Abdel Nasser Hamti, affirmed that removing zeros from the national currency does not generate inflation.

Also in what concern in the session of approving a draft law requiring the cancellation of 4 zeros from the riyal coin and calling it Toman today, Monday, that the current inflation comes because of chronic and accumulated inflation for decades.

He indicated that changing the national currency and canceling four zeroes from it will be gradual, so that requires preparing the capabilities and preparing people to implement it, and that the period of replacing the toman with riyals will take 2-5 years and depends on the circumstances and capabilities