Iran Launches Nationwide Currency Denomination

Iran's government will begin the process of removing four zeros from its currency starting in the next Iranian year, from March 21, 2026, to March 20, 2027.

This became clear based on the prices shown in the budget submitted by the Iranian government to the parliament, The Caspian Post reports, citing Trend.

Thus, the Iranian government has shown revenues and expenses by removing four zeros from all amounts shown in the state budget for the next year.

On this basis, if $1 is 746.437 rials according to the exchange rate provided by the CBI, then $1 will be 74.6 rials with this indicator in the next Iranian year. This may happen if the value of the currency in Iran won't significantly decrease during the coming months.

On November 22, President of Iran Masoud Pezeshkian signed a decree on the implementation of the law of the Central Bank of Iran (CBI) on the denomination of the currency (deletion of four zeros from the national currency), adopted by the Iranian Parliament on November 2 and approved by the Iranian Guardian Council on November 5.

The law on the denomination of the currency in the CBI code notes that the current 10,000 rials will be equal to one rial and 100 girans.

Since it's in parallel during the transition period, the Iranian currency will be called "rial" and "current rial". The process will continue in this form for a maximum of three years. The process of collecting banknotes and coins will be carried out. After the end of the mentioned three years, the Iranian currency will bear the name "rial".