Iran cuts 4 zeros form rial and changes the name of its currency

 In the sidelines of the draft on changes to the currency, Iran's Central Bank suggests to cut 4 zeros from the running currency – rial and to rename it. The new Iranian currency is suggested to be called parsi, “MEHR” news agency quotes CB Vice President Hosseyn Ghazav as saying in a news conference.

According to the Iranian official, in the aftermath of public voting from several names, including rial — the current name — toman, parsi and derik, parsi was the most voted.

The biggest Iranian banknote is 100,000 rials, which is equivalent to around 9 dollars.