Cryptocurrency Q&A
Why does Iran have two currencies?
Why does Iran have two currencies?
JejuJoyful
Mon Nov 04 2024
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6 answers
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I'm curious why Iran has chosen to have two currencies operating simultaneously within its economy. What are the reasons behind this decision, and how does it affect the country's financial system?
6 answers
Eleonora
Wed Nov 06 2024
They voted to initiate a gradual process of remonetizing the nation's currency.
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KimonoSerenity
Wed Nov 06 2024
This process involved transitioning from the rial to the toman.
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Bianca
Wed Nov 06 2024
The transition period was set between 2020 and 2021.
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Lucia
Wed Nov 06 2024
The Iranian parliament took a significant decision due to the low value of the rial.
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CryptoBaron
Wed Nov 06 2024
The exchange rate for this transition was established as 1 toman equaling 10,000 rials.
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