Reforms to change currency in Iran

currency of Iran

On Monday, the Parliament has passed a bill according to which Toman will become the official currency of Iran.

The new monetary reform which was waiting for approval for a long time now needs the final confirmation from the Guardian Council.

Should it become effective, the current 10,000 Rials will be equal to 1 Toman. Consequently, 1 US dollar will no longer be about 150,000 Rials (at market exchange rate) but instead it simply will be 15 Tomans! Much easier to digest!

Related article: Brief History of Exchange Rate in Iran