Iran’s Guardian Council has approved a long-debated plan to remove four zeros from the national currency, paving the way for a major monetary reform aimed at stabilizing the rial and simplifying financial transactions. Council spokesperson Hadi Tahan Nazif announced the decision during a press briefing in Tehran on Saturday, saying the bill—previously passed by Parliament—had been reviewed and found to be consistent with both Sharia law and the Constitution.
According to Tahan Nazif, once the bill is formally enacted, the redenomination process will begin and be implemented gradually over several years to allow sufficient time for logistical and technical preparations. The reform, which effectively replaces the rial with a higher-value unit, is part of broader government efforts to tackle inflation and stabilize the currency after years of depreciation.
The proposal to drop zeros from the rial dates back more than three decades, resurfacing under multiple administrations but never reaching implementation. The government first approved a draft plan in 2019, followed by Parliament’s endorsement of its general outlines the same year. After further amendments, the final version was passed by Parliament on October 5, and its approval by the Guardian Council now clears the last legal hurdle for execution—a significant step in Iran’s long-standing quest for monetary reform.
