Iranian government approved rial to be replaced with toman

Almaty. July 24. Silkroadnews – Iranian government approved rial to be replaced with toman, secretary of the Cabinet Mohsen Haji Mirzaei said, Iranian Telegraph Agency (IrTAG) reports.
The current decision is aimed at simplifying monetary settlements. One toman will be equal to 10 rials, M.H. Mirzaei was quoted saying.
According to him, the issue of transition to a new monetary unit was studied by the government’s economic commission for the last six months. The draft of the monetary reform was submitted by the Central Bank of the Islamic Republic of Iran in November last year. The toman was used in Persia (the former name of Iran) until 1932, when it was replaced by rial. Now a reverse change is made.
Until now, toman was considered an unofficial monetary unit in Iran. Notes of currency of the Central Banks and price tags in the stores wer denominated in rial, yet in everyday speech Iranians almost always used the word “toman” which created a confusion.
Due to recent years’ inflations rial has depreciated considerably. Currently, the US dollar at Iran’s exchange offices is traded at 39 thousand rial, while soon it will cost 3.9 thousand toman. In fact, Iran is carrying out a denomination on one sign. Previously, it was suggested to remove three and even four zeros from monetary denominations.