Iran’s parliament has passed a bill allowing the government to slash four zeros from the rial, Iranian state media reported on Monday, after a sharp fall in the value of the currency as a result of crippling U.S. sanctions.
Iran’s national currency will be changed from the rial to the Toman, which is equal to 10,000 rials, under the bill.
The devaluation of the rial has been marked by four key turning points:
Iranian Nuclear Program:
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