Express

Iran Ditches the Rial For The Toman Amid Hyperinflation

Ramsey Baker

Summary: Iran’s parliament has voted to institute a new currency due to the coronavirus, sanctions hyperinflating the rial and local Bitcoin prices skyrocketing. According to a report from local outlet Mehr News on May 4, the ‘Reforming Monetary and Banking Law’ has passed in parliament. The new law decrees the transition from rial to the toman, ...

Iran’s parliament has voted to institute a new currency due to the coronavirus, sanctions hyperinflating the rial and local Bitcoin prices skyrocketing.

According to a report from local outlet Mehr News on May 4, the ‘Reforming Monetary and Banking Law’ has passed in parliament. The new law decrees the transition from rial to the toman, which is worth 10,000 rials, in the next two years.

By Ramsey Baker

Last Update:

Tags: ,,,,,
Link: Iran Ditches the Rial For The Toman Amid Hyperinflation   [Copy]
Next:

Related Articles

  • BitFuFu’s VP on Mining Leadership, Corporate Crypto Treasuries, the Stablecoin Act, and... 4 days ago
  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 5 days ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 15 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 17 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 18 days ago

    • You need to login to comment.