Inflation-hit Iran to lop zeros off currency

Iran is to lop several zeros off its currency as it battles double-digit inflation, central bank vice president Hossein Ghazavi said in comments published on Thursday. "A special committee has been formed within the central bank to prepare the currency reform and the suppression of several zeroes," the financial daily Sarmayeh quoted Ghazavi as saying. "A 10,000 rial note has the same purchasing power now as 25 rials 30 years ago," he said.

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