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Message Subject Iranian central bank announced dropting the zero of Rial today.
Poster Handle Anonymous Coward
Post Content
There was a old news article from last year when Iran wanted to drop zeros and the reason given was to 'strengthen rial' and wrote how it will do that. I can not seem to find it through google search.

Anyway dropping zeros along with stopping import of foreign goods replacing it with domestic goods (has already started since last year. Many good are now prohibited from being imported)and other measures of dropping or phasing out dollar and euro as it was in the news recently, plus increasing the gold reserve (Iranian tv showed Iranian gold reserve increased by 100 tons this past year) and government subsidies thats going on now (every 2 to 3 months government deposits some money to Iranian low income families); All these and others can boost the economy and Irans currency in coming years.

The dropping of zeros is not just alone. There are other factors Iran has put in place by Ahmadinejad government.

So we have to wait and see what will happen. Iran contradicts every economic models in the world. What the world think it will happen will have opposite effect in Iran.
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