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Iranian central bank announced dropting the zero of Rial today.
Ms Sans Serif
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[quote:Anonymous Coward 3297006:MV8yMTIxNjU3XzM1Nzk1NDMyX0ZEMUJERDY4] if there is a lot of illicit black market funds floating around and there is a small timeframe window to exchange into the currency then like expired lotto tickets this money will be pulled from circulation thereby strenghening the currency... not necessarily an accounting only mechanism [/quote]
Iranian satellite news channel announced the central bank has finished the preparation of dropping 4 zeros from Iranian currency strengthening to world level.
For example right now from all sanctions and etc.. 1 US dollar is over 12000 rial and 40000 rial on blackmarket. but if the 4 zeros drop then 1 US dollar will be 1.2 rial and 4 rial respectively.
It will greatly strengthen Iranian economy and release the hardship of high costs of goods for Iranians.
Now the fun part will be the super rich Iranians will not longer be super rich and the gap between upper class and lower class will become smaller.
Also Ahmadinejad announced that because of higher inflation a determined amount of money or funds will be given to Iranian family. The government will return more money to people soon.
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