[CBSNews] Tehran - The head of Iran's Central Bank announced Monday [4 May] that the nation's currency was set to be re-named and re-valued. Long called the rial, Iran's money will soon likely be called the Toman, and an impressive four zeros will be shaved off all denominations. What was previously 10,000 rials will become one Toman under the plans, which were approved Monday by the Iranian parliament.
IIUC, the Toman will, initially be worth about 10 cents in the black market and about 25 cents on the official market. |