کمیجانی

The Deputy Chief of Iran’s Central Bank says the Sunday decision by the cabinet to rename Iran’s currency unit from Rial to Toman is by no means a monetary reform plan.

In an interview with IBENA, Akbar Komeijani argued that such a measure, whether it involves one zero or more lopped off from the unit, demands theoretical and executive grounds to be laid.

Komeijani said the cabinet’s vote to change the unit was merely meant to facilitate transactions, to ease reading and registering monetary data and to align the currency with the common daily deals in the society.

The official added that theoretically, for any monetary reform stability of prices is the main prerequisite and from the executive point of view that can happen through long-term plans and a large allocation of budget, a project which needs sophisticated and precise implementation.

Komeijani also told IBENA that the Central Bank has already carried out the basic research in this regard and its proposed package on monetary reform will be unveiled in due time.

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