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Iran’s central financial institution proposes slashing 4 zeros from falling foreign money

Iran’s central financial institution has proposed slashing 4 zeros from its battered foreign money, in accordance with State Information Company IRNA. 

“A invoice to take away 4 zeros from the nationwide foreign money was offered to the federal government by the central financial institution yesterday and I hope this matter may be concluded as quickly as doable,” IRNA quoted central financial institution governor Abdolnaser Hemmati as saying.

Iran’s rial (IRR) fell 60 % in opposition to the dollar in 2018 and reportedly traded at about 110,000 per US greenback on the unofficial market on Sunday. 

 


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