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Iranian central bank announced dropting the zero of Rial today.
Ms Sans Serif
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[quote:CripplingLies:MV8yMTIxNjU3XzM1Nzk2MTY1X0E3NkQxOEI=] [quote:Anonymous Coward 8260452:MV8yMTIxNjU3XzM1Nzk0NDgxXzNGNUEzMjdD] [quote:Anonymous Coward 24009796:MV8yMTIxNjU3XzM1Nzk0MjI5X0NGRTMyRTc2] So a loaf of bread that cost 12,000 rials today costs 12,000 rials next week but the 12,000 rials you have as an Iranian citizen today is only worth 1.2 rials next week? Is that a good thing? Sounds like 1920's Germany to me. [/quote] You're a retard, seriously. [/quote] No, he is not. We face this in Brazil in mid 80's, this made inflation skyrocket to unbelievable +80%/month. Can you picture going to the market today and buying something for about 10 dollars, then in the next week, the same thing costing about 15, and the next week about 20 and so on? This makes money worth nothing; What will happen? They will cut these 4 zeros, then prices(of everything) are going to skyrocket, what cost 1000 rial, will cost 1 rial, the next month, it will cost 100 rial again, which is the same as 100000 rial in few weeks, this is a disaster, the worst thing ever to happen... [/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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