Iran considering to revalue its currency

According to an article in Tehran Times dated 7 April 2011, Mahmoud Bahmani, the governor of the Central Bank of the Islamic Republic of Iran, said the bank has begun studying plans to remove four zeros from the rial, and will seek approval from the Monetary and Credit Council within six months. Meanwhile, the Finance and Economy Minister, Shamseddin Hosseini, recently said the bank is planning to remove three zeros from the currency within the current calendar year which started on March 21. Currently Iran’s largest banknote is the 100,000-rial note (US$9.60), although it has also issued note-like cheques in denominations ten times that amount.

Iran has been discussing revaluing the rial for years, so it’s anyone’s guess as to whether anything will come of this latest announcement.

Courtesy of Banknote News

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South Sudan Currency

The government of South Sudan has ordered the printing of currency, to be released to circulation July 9, 2011.

Courtesy of MRI Guide

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South Sudan to Issue New Banknotes

According to a Bloomberg Businessweek article dated 30 March 2011, the Bank of Southern Sudan plans to release its own currency, called the South Sudan pound, when the new African country declares independence in July 2011 and after either the US or the UK recognizes Southern Sudan as an independent nation. The new notes are being printed by an unnamed European company. The issuance of a new currency in Southern Sudan will probably prompt Sudan to revise its own currency, too.

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