
Iran approves removal of four zeros from rial currency
The decision was made during a cabinet meeting in Tehran, following a motion passed by the parliament's economic commission last week.
Mohajerani clarified that the rial would remain the official currency, with its subdivision called the gheran.
She noted that the transition would take time, with both old and new currencies circulating temporarily.
Shamseddin Hosseini, head of the parliament's economic commission, earlier stated the reform aims to simplify financial transactions.
Under the plan, one new rial would equal 10,000 current rials and be divided into 100 gherans.
The proposal still requires approval from Iran's parliament and the Constitutional Council before implementation.
Iran's currency has faced significant devaluation since the US withdrew from the 2015 nuclear deal and reimposed sanctions in 2018.
The economic measures have contributed to ongoing financial instability in the country. – Bernama-Xinhua
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
31 minutes ago
- The Star
Akmal Saleh gives statement to police at Dang Wangi station
KUALA LUMPUR: Umno Youth chief Datuk Dr Muhamad Akmal Saleh completed giving his statement at the Dang Wangi District Police Headquarters (IPD) here at 1.25am on Saturday (Aug 16) over the assembly in Kepala Batas, Penang last Thursday. Muhamad Akmal's lawyer, Aizat Azam, said the Merlimau assemblyman had extended good cooperation and answered all of the approximately 80 questions posed by the investigating officer. "He (Muhamad Akmal) was investigated under Section 4(1) of the Sedition Act 1948, Section 506 of the Penal Code, and Section 233 of the Communications and Multimedia Act 1998,' he told reporters when met in front of the IPD today. Meanwhile, Muhamad Akmal said he would give full cooperation to the police in the investigation into the case. He arrived at the Dang Wangi IPD at 11pm yesterday to have his statement recorded. The police had earlier confirmed that they had opened an investigation over a viral video posted on the Facebook account under the name 'Akmal Salleh'. - Bernama


The Star
an hour ago
- The Star
Drawing in fresh science and tech talents with special visa
The country will introduce a new visa category for young science and technology talent, following a decision by the State Council. Premier Li Qiang has signed a State Council decree to promulgate the decision to amend the country's regulation on the administration of foreigners' entries and exits. According to the decision, China will add a K visa to its ordinary visa categories, available to eligible young science and technology professionals. Applicants for this visa must meet the qualifications and requirements set by relevant Chinese authorities and submit supporting documentation. The new rules will take effect on Oct. 1. Compared with the existing 12 ordinary visa types, K visas will offer more convenience to holders in terms of number of permitted entries, validity period and duration of stay, according to a press conference held by relevant authorities on Thursday. After entering China, K visa holders can engage in exchanges in fields such as education, culture, and science and technology, as well as relevant entrepreneurial and business activities. Bar specific age, educational background and work experience requirements, applications for K visas do not require a domestic employer or entity to issue an invitation. 'China's development requires the participation of talent from around the world, and China's development also provides opportunities for them,' according to the press conference. — Xinhua


New Straits Times
an hour ago
- New Straits Times
Perak MB: Malaysians' duty to respect Jalur Gemilang
IPOH: Every Malaysian who understands the meaning of a sovereign and independent country has a duty to respect the Jalur Gemilang flag, Perak Menteri Besar Datuk Seri Saarani Mohamad said. Respecting the Jalur Gemilang flag is not a question of race, skin colour, religion or party affiliation, he added. "When we fly the Jalur Gemilang, let's do it properly and with respect, not upside down, don't let it get worn or torn. "If it's put up wrongly, let's correct it together, if there are those who don't understand, let's explain. This is how we show we understand and care," he said during his speech at the Perak-level National Month and Fly the Jalur Gemilang Flag 2025 campaign here yesterday. He said respecting the Jalur Gemilang flag showed respect for the country as the flag represented the country and stood for its dignity, history and the future of all Malaysians. "Every time it (the Jalur Gemilang flag) flies high, let us cheer with our spirit, and remind ourselves that we are united under one flag, we fight under one banner, and we bear this flag as we continue to blaze ahead to build our future," he added. Saarani reminded the public that all Malaysians need to commemorate the National Day celebrations as a way to live their lives in peace, unity and to build a country with all their strength and capabilities. "Don't let our independence be just a date on the calendar, let it live in our every heartbeat. As we enjoy the gifts of peace, let us be truly grateful and thankful," he added. There were various activities held during the launch since the afternoon, including exhibitions, a Rahmah Sale, a children's costume contest as well as booths offering services from various agencies, along with performances by local artistes, including Zamani Siam. – BERNAMA