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Tuesday, July 19, 2011

Parsi to Replace Rial as National Currency

Rial to Lose Four Zeros to Become Parsi

The Central Bank of Iran (CBI) announced today that it will send legislature to the Majlis establishing a new national currency, tentatively named parsi, by eliminating four zeros from the current rial. Based on today’s foreign exchange rates, the parsi will be worth 87 cents (0.87 USD).

The deputy governor of CBI, Hossein Qazavi, told reporters in Tehran that parsi as the proposed name for the new currency was the choice of the majority of respondents in a nationwide poll that was conducted in the past 48 hours [Fars News Agency, 19 July].

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7 comments:

  1. AnonymousJuly 19, 2011 at 12:22 PM

    There is no second currency unit
    planed, that is not a good idea.
    all cirrencies in the world have usually two units, one larger and other smaller
    like $ and Cent
    or rial and toman

    ReplyDelete
  2. AnonymousJuly 19, 2011 at 1:05 PM

    Rial was syn. for Royal..about time it was changed.

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  3. Nader UskowiJuly 19, 2011 at 2:23 PM

    Anon 12:22 PM,
    Yes, there is a secondary currency unit planned, which would be one tenth of the primary unit (like dollar and cent). The name of the secondary unit has not been decided yet.

    Anon 1:05 PM,
    Rial is Iranian word and was first used as the name of the national currency in late 18th century. It was replaced by qiran in the 19th century. In 1932, it again became the country's currency. Saudi Arabia and Oman also use the same name for their currencies, although it is translated as riyal.

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  4. AnonymousJuly 20, 2011 at 12:38 PM

    The official US currency name is the Dollar. The cent is not official. A cent is merely defined as 1/100 of a Dollar.

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  5. AnonymousJuly 31, 2011 at 11:18 AM

    So the incompetent jokers are going to change the Rial to Parsi and knocking four zeros off as well it is like a trades man changing his tools because of his shoddy workmanship.Honestly why not put the four zeros behind the main digit and make it one Parsi equals four Dollars what do these idiots know about economy after all Khomeini said economy is for donkeys and donkeys they are.

    ReplyDelete
  6. AnonymousAugust 17, 2011 at 4:06 AM

    The defining of new unit does not control inflation. Any way, it is a good news.

    ReplyDelete
  7. UnknownAugust 3, 2015 at 12:16 PM

    Will the old currency be equal to new one?? With exchange rate of .87 usd

    ReplyDelete