Iran shows new 500,000-rial note

The Central Bank of the Islamic Republic of Iran has made the design of the new 500,000-rial note public, according to the Iran Front Page. The new note has a few changes comapred to the one issued in 2014: its main color is now orange, the vignettes on the front have been repositioned and on the back we can see Mount Damavand.

One striking element of this note, is the 50 on the front. This might be an clue that Iran might lop off 4 zeroes of its banknotes. "The government had announced in 2016 it is planning to cut four zeroes off the currency, in an effort to keep up with rampant inflation that has hit the Iranian economy for decades." 

Steven Thursday 10 January 2019 at 4:22 pm | | news
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