Iranian cabinet approves currency change

December 7, 2016 - 18:20

TEHRAN – The administration of President Hassan Rouhani approved a measure on Wednesday calling for the change of the national currency from the rial to the toman.

One toman would be worth 10 rials, or around 3,200 to a dollar at official exchange rates, and 3,900 to a dollar at unofficial rates.

However, the approval should be ratified first by the parliament and then endorsed by the Guardian Council to take effect.