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Message Subject Iranian central bank announced dropting the zero of Rial today.
Poster Handle Saddletramp
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What they're trying to do is make their currency seem more attractive vs foreign currencies to their own people by Xing out a few zero's...

Lot's of countries have tried this over the years...doesn't affect the value of the currency vs the amount of currency in circulation vs the price of commodities...so it's a shell game when you get right down to it.

Iran still has to import almost all of their food and (oddly enough) gasoline...do you think it's going to make any difference on the world market?!?!?

Meaning that world market controls the price of the commodities that this country must have...so Xing out a few zero's doesn't mean a thing in or out of Iran...
 
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