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Iran: Bank Markazi considers four zeros redenomination of rial

Bank Markazi (Central Bank of Iran) has put forward a proposal to revalue the embattled currency, removing four zeros from the rial. The idea was proposed by governor Abdonnaser Hemmati on 6 January and will require parliamentary approval. It could take up to two years to finalise and will necessitate replacing all the bank notes currently in circulation.

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