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Iranian central bank announced dropting the zero of Rial today.
Ms Sans Serif
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[quote:MaryAlananB:MV8yMTIxNjU3XzM1Nzk4NzM0X0U0NTQxRUQ5] No the loaf will still be 12,000 rials and you will only have 1.2 to purchase it. [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] [/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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