Iran changes national currency "toman"May 4, 2020 - 17:41 AMT PanARMENIAN.Net - Iran's parliament on Monday, May 4 approved a bill to change the official currency to "toman" which equals 10,000 rials, IRNA reports. Lawmakers voted on Monday for the details of an amendment to the Monetary and Banking Act of Iran that would change the official currency to 'toman'. The new law tasks Central Bank of Iran with recalculating foreign exchange ratio with 'toman' taking into consideration the currency reserve and the country's commitments to the International Monetary Fund. The law also articulates that 'rial' will remain credible alongside 'toman' for two years, during which the old coins and bills will be gradually collected and new ones will replace them. The Central Bank of Iran has been required to do preparatory work for the implementation of the new law within two years from its enactment. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |