A redenomination of the currency won’t make Tehran’s economic woes go away.
The bank would have two years to create the "toman" currency, returning to a name that has not been officially used since the 1930s.
Proposals to remove four zeros from the currency have been floated since 2008, but the idea has gained strength as the rial lost more than 60 percent of its value in 2018.
Iran’s rial may have halved in value since the Trump administration shunned nuclear deal, but changes aim to boost the currency before US sanctions return this week.
Federation of Money Changers of Herat estimates $2 to $3M cross the porous western Afghan borders into Iran daily. US sanctions have made Tehran desperate for dollars and neighbouring Afghanistan's dollarised economy is an obvious source.
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