Pezeshkian signed a decree on the denomination of Iran's national currency

President of Iran Masoud Pezeshkian issues decree on denomination of national currency - the rial.

As reported by BAKU.WS with reference to Tasnim, this is stated in a message from the presidential administration.

"In order to implement Article 123 of the Constitution of the Islamic Republic of Iran, Masoud Pezeshkian notified the Central Bank about the entry into force of the amendment to paragraph (a) of Article 58 of the Central Bank Law (providing for the denomination of the national currency - ed.)," the statement says.

The rial will consist of one hundred kerans - a smaller unit bearing the historical name of the national currency. The period of gradual transition to the currency approved by parliament will take three years, during which time the use of both old and new types of banknotes is permitted.

Earlier, the Guardian Council of the Constitution of Iran did not consider the decree on removing four zeros from the national currency banknotes to be contrary to the country's constitution.