{"id":8624,"date":"2025-10-06T11:14:28","date_gmt":"2025-10-06T18:14:28","guid":{"rendered":"https:\/\/iranreport.org\/?p=8624"},"modified":"2025-10-08T11:23:01","modified_gmt":"2025-10-08T18:23:01","slug":"irans-parliament-approves-bill-to-reform-national-currency","status":"publish","type":"post","link":"https:\/\/iranreport.org\/?p=8624","title":{"rendered":"Iran\u2019s parliament approves bill to reform currency and drop 4 zeros from Rial"},"content":{"rendered":"\n<p><strong>The Iranian parliament has approved a government bill to remove four zeros from the national currency rial amid efforts to simplify financial transactions and accounting operations.<\/strong><\/p>\n\n\n\n<p>Members of the parliament approved the bill on Sunday with 144 votes in favor, 108 against, and three abstentions.<\/p>\n\n\n\n<p>The bill allows the government to start a five-year program to reform the rial by removing four zeros from it and restoring an old currency subdivision named qiran.<\/p>\n\n\n\n<p>Chairman of the parliament\u2019s economic committee Shamsoddin Hosseini called the approval of the bill a major achievement, saying three previous administrations and parliaments had failed to pass it.<\/p>\n\n\n\n<p>The Central Bank of Iran (CBI), which will be in charge of implementing the bill, said that operations to remove four zeros from the rial would take two years before a three-year transition period starts, during which both the old and new currencies will be in circulation.<\/p>\n\n\n\n<p>The bank started preparations for removing four zeros from the rial in 2018 when it issued banknotes with the last four digits in a paler color to help the public gradually adapt to the planned changes.<\/p>\n\n\n\n<p>The move came under a previous government bill which sought to change the name of the Iranian currency to toman and subdivide it into 10 rials.<\/p>\n\n\n\n<p>However, under the new bill, a new Iranian rial would be equal to 10,000 current rials and would be subdivided into 100 qirans.<\/p>\n\n\n\n<p>Jafar Mehdizadeh, who serves as head of CBI\u2019s department for monetary policies, said that Iranian President Masoud Pezeshkian will lead a special headquarters that oversees the removal of four zeros from the rial.<\/p>\n\n\n\n<p>\u201cThis (reform) program has been implemented in many countries and has had its successes and failures. We will try to use these experiences and make it a success,\u201d said Mehdizadeh.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Iranian parliament has approved a government bill to remove four zeros from the national currency rial amid efforts to simplify financial transactions and accounting operations. Members of the parliament<\/p>\n","protected":false},"author":3,"featured_media":8625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"categories":[37,33],"tags":[20],"class_list":["post-8624","post","type-post","status-publish","format-standard","has-post-thumbnail","category-featured","category-iran-domestic","tag-featured"],"_links":{"self":[{"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/posts\/8624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/iranreport.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8624"}],"version-history":[{"count":3,"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/posts\/8624\/revisions"}],"predecessor-version":[{"id":8629,"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/posts\/8624\/revisions\/8629"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iranreport.org\/index.php?rest_route=\/wp\/v2\/media\/8625"}],"wp:attachment":[{"href":"https:\/\/iranreport.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iranreport.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iranreport.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}