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Iran's currency is set to get a new name — and lose four zeros.

 # Iran's currency is set to get a new name — and lose four zeros.


The head of Iran's Central Bank announced Monday that the nation's currency was set to be re-named and re-valued. Long called the rial, Iran's money will soon likely be called the Toman, and an impressive four zeros will be shaved off all denominations. What was previously 10,000 rials will become one Toman under the plans, which were approved Monday by the Iranian parliament.

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