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In today’s public session, members of Iran's parliament gave final approval to a bill amending the country’s monetary and banking laws, endorsing the removal of four zeros from the national currency.
The legislation aims to simplify financial transactions and enhance the efficiency of the national currency.
The bill passed with 144 votes in favor, 108 against, and 3 abstentions out of a total of 255 votes cast.
During deliberations on the bill, the head of Parliament's Economic Commission explained: "The removal of four zeros aligns with previous resolutions and follows a government proposal designating 'Rial' as the official name of the national currency. While these reforms alone are not expected to directly curb inflation or function as an independent monetary policy, they are deemed necessary due to persistent inflationary pressures and operational challenges stemming from the excessive number of zeros in our currency."
