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Comments: Iran revives currency redenomination bill but keeps 'rial' as official unit The new currency unit will be worth IRR 10,000, effectively removing four zeros from the current denomination / CC: EcoIran By bne IntelliNews August 3, 2025 Iran’s long-standing plan to slash four zeros from its national currency is once again advancing through parliament, as the Economic Commission of the Islamic Consultative Assembly (Iranian parliament) approved a revised version of the bill on August 3. However, MPs opted to retain the 'rial' as the official currency unit, rejecting the government's proposal to rename it ‘toman,’ as was initially announced as part of the plan. According to Shamseddin Hosseini, head of the Economic Commission, the bill – originally introduced by the Rouhani administration as part of broader monetary reform – required revision following the enactment of the new Central Bank law in 2023, which rendered several articles of the old monetary and banking law obsolete. “The key structure remains intact,” Hosseini told reporters. “The new currency unit will be worth IRR10,000, effectively removing four zeros from the current denomination. One new rial will be subdivided into 100 ‘qerans’, reviving a historic unit as the fractional denomination.” The initial government draft had proposed switching the official currency name to the more commonly used ‘toman’ and using ‘qeran’ as the subunit. However, lawmakers cited Article 58(a) of the Central Bank Law, which explicitly defines ‘rial’ as the legal tender, to maintain continuity. The commission also addressed concerns from the Guardian Council regarding Iran’s obligations to the International Monetary Fund (IMF). Hosseini assured that the re-denomination would not affect Iran’s international financial commitments, as the existing law governing IMF membership remains in force. Although the bill is still pending a full vote in the Majles (parliament), latest decision reaffirms Iran’s determination to simplify monetary transactions, ease accounting burdens, and restore symbolic credibility to the currency, albeit without a name change. The redenomination initiative, first floated in 2008 and formally submitted in 2019, had repeatedly stalled due to political uncertainty and economic volatility. If passed, implementation would take place gradually, involving dual-currency circulation, updated banknotes, and public awareness campaigns. Comments: Achaemenid Empire
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Comments: Donald Trump fires person behind jobs numbers after they're revised down"I was just informed that our Country's 'Jobs Numbers' are being produced by a Biden Appointee, Dr. Erika McEntarfer, the Commissioner of Labor Statistics, who faked the Jobs Numbers before the Election to try and boost Kamala's chances of Victory," Trump posted on Truth Social, referring to former Democratic presidential nominee Kamala Harris. Comments: .
Comments: The Amir Kabir dam in Iran's northern Alborz mountain range on June 1, 2025. Many of the country's dams are at alarmingly low levels.
 This city could run dry ‘within weeks’ as it grapples with an acute water crisisCNN — Iran’s capital Tehran could be weeks away from “day zero,” experts say — the day when taps run dry for large parts of the city — as the country suffers a severe water crisis. Key reservoirs are shrinking, authorities are scrambling to reduce water consumption and residents are desperately trying to conserve it to stave off catastrophe. “If we do not make urgent decisions today, we will face a situation in the future that cannot be solved,” President Masoud Pezeshkian said at a cabinet meeting Monday. https://amp.cnn.com/cnn/2025/07/31/climate/tehran-iran-water-crisis-day-zero Comments: Iran Star Set To Return To Inter Milan Training Tomorrow Amid Transfer Links![[jpg]](https://icdn.sempreinter.com/wp-content/uploads/2024/11/Mehdi-Taremi-Inter-Milan-3-1200x802.jpg.webp)
Mehdi Taremi is to return to Inter Milan’s preseason training tomorrow despite strong links away this summer. This according to today’s print edition of Rome-based newspaper Corriere dello Sport, via FCInterNews. Striker Mehdi Taremi was not among the players to return to Inter Milan’s preseason training last weekend. The reason was that Inter had granted the 33-year-old a few extra days of vacation. This after Taremi had to go through the stressful ordeal of being unable to leave his home country of Iran amid Israeli airstrikes in June. However, the Corriere dello Sport report, Taremi’s vacation will come to an end imminently. The newspaper report that the former Porto striker will join up with Inter’s preseason training camp tomorrow. Nevertheless, the Corriere report, Taremi still has little place in the Nerazzurri’s plans for next season. It is expected that the Iranian international will leave Inter this summer. Furthermore, the player himself is reportedly ready to accept a move away. Therefore, Taremi’s stay at Inter will likely only be temporary. He will keep fit in preseason training, in anticipation of a move away in August. Comments: Dow tumbles more than 600 points as weak jobs data, new tariffs spark sell-offComments:
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