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In the Name of God بسم الله

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Iran will remove three zeros from its national currency, the rial, so it can recover value lost in recent years, Iran's President Mahmoud Ahmadinejad has said.

"We are supposed to remove zeros from the currency... as for some reasons the rial has depreciated during recent years," Ahmadinejad told reporters on Wednesday. "We have to restore its true real value to the one existing in law."

read more here : http://www.presstv.ir/detail.aspx?id=116696&sectionid=351020102

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I consider it pointless. I know Turkey did the same thing, but the Turks' inflation problem in the 1980s was much worse than ours today (to the point that they had to bring a big stack of notes just to buy some fruit).

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I don't know how this will impact the Iranian economy but I wouldn't be carrying wads of currency notes in my money belt anymore. It's such a nuisance to handle so much cash of little value.

Edited by Marbles
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Anonymity in conducting a poll is especially important because it will likely provide the most credible, honest answers.

This isn't exactly a personal issue, so I don't see what the problem is.

My opinion: I think this is just a "fail-safe point." Meaning, now that inflation rates have stabilized, the government feels like it's a good time to start with a "clean slate."

This whole thing is complicated by the fact that "toman" does not exist in the legal sense.

Edited by baradar_jackson
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^ What do you mean does not exist in the legal sense?

I mean it doesn't exist

Iran's currency is the rial

However, if you ask a shopkeeper how much something costs, he will never answer "X rials." He will say "X tomans."

10 rials = 1 toman

But toman does not exist

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I mean it doesn't exist

Iran's currency is the rial

However, if you ask a shopkeeper how much something costs, he will never answer "X rials." He will say "X tomans."

10 rials = 1 toman

But toman does not exist

Yes toman doesn't exist officially. I am wondering how toman came to be used for currency since the currency is rial?

It's confusing for the new tourists. They have to struck a zero off the rial note in their minds to convert to toman lol.

Some shopkeepers and taxi drivers don't even tell prices in x thousand tomans. They answer in x tomans. For instance a taxi driver asked for 2 tomans for the drive. He obviously meant 2000 tomans which is 20,000 rials. :wacko:

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Yes toman doesn't exist officially. I am wondering how toman came to be used for currency since the currency is rial?

It's confusing for the new tourists. They have to struck a zero off the rial note in their minds to convert to toman lol.

Some shopkeepers and taxi drivers don't even tell prices in x thousand tomans. They answer in x tomans. For instance a taxi driver asked for 2 tomans for the drive. He obviously meant 2000 tomans which is 20,000 rials. :wacko:

It's the same for any amount

For example, if a house costs 50 million tomans, people often simply say "50 tomans"

Our ways are strange, I know...

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This decision definitely will change the current flow of wealth entirely,

The enemies of Iran, up to now enjoying from the sanctions on Iran, may face disastrous consequences now from this decision,

This decision is of course positive,

But, this decision needs high level of careful planning, continuous monitoring and management,

This decision should bring ‘sweet rain’ for Iranians after long long hardship,

This decision is serious,

You can’t say just ‘yes’

But you should monitor it continuously constantly after its implementation till the decision brings all goals and desires, for which the decision has been initiated,

Iranians can do this,

As Iranians are always famous for taking complicated decisions and implementing it successfully in all aspects,

This decision has capacity to turn the history in Iran’s favor.

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^ 10000 Rial equals 85 Pak Rupees, so 10 Rials would equal 85 Pak Rupees then? lol I wonder how some Pakistani zaereen will take this, esp. non-educated. I mean 85 = 10000 but now 85 = 10, would be fun explaining that to Boota from Toba Tek Singh. :lol:

LOL yeah. Boota Simpleton will get an heart attack when he will realise that Rs. 85 equal just 1 toman. :lol:

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LOL yeah. Boota Simpleton will get an heart attack when he will realise that Rs. 85 equal just 1 toman. :lol:

Removing the zeros from the rial in the 'revised subsidies' plan is not a standalone solution. As part of a whole range of reforms of our economic system, the largest change ever, the zeros are also removed to start as jackson nicely put, 'with a clean slate' and as Pr. Ahmadinejad says, 'depict the true value of the rial'.

Having those zeros there is a useless thing to begin with. The value of the money stays the same though. However, what you normally bought with 10k rial, you would then buy with only 1 toman. So then, if you actually possess 10k toman, you're a rich man. Once the revised subsidies plan is passed by the guardian council, don't be surprised when 100 USD exchanges to 100 Toman, and you have to pay the actual price for our energy and other goods.

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