Taking More than Changing the Name
* Regarding the government bill about changing the currency from rial to toman, an official in the Majlis stated that they have been following up on the banking sector reform plan and changing the country’s currency falls in this scheme, too. However, some members of the parliament assume that if such an attempt is done to implement economic restructuring, removing only one zero will not do the trick; besides, considering the current volume of notes, which is equal to IRR 500,000 bn, the cost of replacing them will hover around IRR 30,000 bn, which is expected to have very little effect in the country. They, rather, believe that it is better to remove 4 zeros of the rial instead in order to keep the money value, which must be accompanied by supporting export, unifying the forex rate, banks and credit institutions’ mergers, etc. among other economic priorities.