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Title: Iran to Cut 4 Zeros From Its Currency Amid Chronic Inflation and US Sanctions Post by: Yey09 on May 11, 2020, 10:54:42 PM Iranian lawmakers have reportedly approved a plan to slash four zeros from the national currency, the rial, which has been falling sharply in value amid chronic inflation and the U.S. sanctions. The official currency will also be replaced. Economists are skeptical about how the changes will affect the Iranian economy. https://news.bitcoin.com/iran-currency-inflation-us-sanctions/
Title: Re: Iran to Cut 4 Zeros From Its Currency Amid Chronic Inflation and US Sanctions Post by: Chivas Regal on May 12, 2020, 12:07:29 AM Iranian lawmakers have reportedly approved a plan to slash four zeros from the national currency, the rial, which has been falling sharply in value amid chronic inflation and the U.S. sanctions. The official currency will also be replaced. Economists are skeptical about how the changes will affect the Iranian economy. https://news.bitcoin.com/iran-currency-inflation-us-sanctions/ Numismatics the world over will probably be the only ones to rejoice as they can add new and varied designs to the collections. One of the troubles that occurs with a currency devaluation or swap new-for-old as occurred in India or Iraq (or the introduction of the Euro before that) is trying to get rid of your stockpile of old notes hidden away in draws or under mattresses (https://www.npr.org/sections/thetwo-way/2017/01/24/511451628/feds-find-20-million-hidden-under-a-mattress-in-massachusetts). |