The bill however will be sent to the Parliament and needs approval before going effective as a law. On Wednesday, Cabinet meeting addressed ‘Central Bank of the Islamic Republic of Iran Bill,’ during which a proposal related to currency change was approved.
In the new system, each Touman will equal 10 Rials (Rls.). Touman had been during the economic history a major currency in Iran, with Rial only dominating the scene after the fall of Qajar period and the modern reforms introduced to the country.
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