In Other News…

• The Central Bank of Iran has unveiled the designs of three new banknotes as part of the transition of Iran’s currency from the rial to the toman.

Under the changes, four zeroes will be knocked off the rial and it will be renamed.

The new notes are in denominations of 1, 2 and 5 tomans (equivalent to 10,000, 20,000 and 50,000 rials) and will go into circulation in the next few months. The design themes and overall colour of the existing notes will be retained, but all the new notes will be issued in the same size and format.

Late last year, the Bank issued a new 100,000 rial note, in which the first two numerals (10) are in bold, and the other zeroes in a lighter colour to acclimatise the public to its eventual transition to a 10 toman note.