Iran approves removal of 4 zeros from national currency

Iran's cabinet approved the removal of four zeros from the national currency, the rial, Iranian government spokeswoman Fatemeh Mohajerani said one week after the Iranian parliament's economic commission passed a motion over the move.

According to her, Iran's national currency would continue to be the rial, with its subdivision called the gheran. She added that the zero removal process would be time taking, and for a while, two currencies would be used.

One rial would be equivalent to 10,000 at the current value and be subdivided into 100 gherans.