Publication Date:
Tue, 2010-06-22 22:10
The report Tuesday said the new 100,000 rial bill (worth roughly $9.6) is aimed at facilitating financial transactions. The new bills will go into circulation starting Wednesday.
The introduction of a new banknote appears to reflect Iran's struggle with inflation. While the government says inflation has dropped to slightly below 10 percent, economist and analysts say it remains well above 20 percent.
One side of the new bill bears a portrait of the late Ayatollah Ruhollah Khomeini, the father of the 1979 Islamic Revolution, while the other carries a picture of famed 13th century Persian poet Muslih Al-Din Sa'di's tomb and a quote by him about all humans being equal.
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