According to many Iranian media reports, on the 4th local time, the Iranian Parliament voted to pass an amendment to the Iranian Currency and Banking Law, which changed the official currency “Rial” to “Turman” Toman).
The new bill requires the Central Bank of Iran to recalculate the exchange rate in “Turman” after considering the currency reserves and the commitment to the International Monetary Fund.
The law also clearly stipulates that “Rial” will maintain the credibility with “Turman” for two years. During this period, old coins and banknotes will be gradually collected, Use new coins and banknotes instead.
It is understood that the new currency conversion will become 10,000 “rials” for 1 “Turman”.
(Originally titled “Suddenly, this country announced a change of currency! 10,000 old currency for 1 new currency”)