The Iranian government’s passing of a bill on Dec. 7 to change the national currency unit from the rial to the toman — equivalent to 10 rials — has triggered charges that the administration had not thoroughly studied the measure. The bill needs to be ratified by parliament and then approved by the Guardian Council to go into effect.
Despite the government’s insistence that the move was only a “name change,” a majority of economists in Tehran argue that the change to the national currency is considered redenomination, for which the Iranian economy is not yet ready.
