On 3 August the Parliament Economy Committee approved the proposal to create a new monetary unit worth 10,000 of the old rials. The new currency, also called rial, must still be approved by the full Parliament.

Original similar plans would have called the new monetary unit toman, but it was decide to retain the original name of rial.

Currently the informal rate of exchange of the U.S. dollar is 920.000 rials, making one proposed new rial worth slightly more than one American cent.

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